Electronic Arts Earnings: EA Stock Slides Despite Q2 Earnings Beat

The stock surged 4% during regular trading hours

Electronic Arts earnings (NASDAQ:EA) came in ahead of what analysts were calling for in the company’s latest quarter, but EA stock was still sliding late in the day.

Electronic Arts earningsThe company said that for its fiscal second quarter of 2018, it brought in net income of $255 million, which is stronger than the loss it posted during the same period a year ago. This tallied up to 83 cents per share, or 98 cents per share when adjusted for one-time costs and gains.

Electronic Arts earnings were ahead of what Wall Street was calling for as the average estimate of 14 analysts who were surveyed by Zacks Investment Research was for earnings of 58 cents per share. The video game maker also brought in revenue of $1.29 billion for the period, or $1.22 billion on an adjusted basis.

The Wall Street consensus estimate called for adjusted revenue of $1.18 billion, according to data compiled by 11 analysts surveyed by Zacks. For the current quarter, Electronic Arts sees its earnings at 61 cents per share, while its revenue is slated to be in the range of $1.73 billion.

The company also sees its full-year earnings at $3.11 per share, while revenue is slated to be $5.2 billion.

EA stock was up about 4% during regular trading hours on Tuesday in anticipation of the company’s quarterly earnings results. Its shares were down a touch over 4% after the bell despite the company’s earnings beat for the period.

Article printed from InvestorPlace Media, https://investorplace.com/2018/10/electronic-arts-earnings-ea-stock-2/.

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