Electronic Arts Earnings: EA Stock Falls 2% After Releasing Q3 Results

Electronic Arts (NASDAQ:EA) earnings for the video game company’s fiscal third quarter of 2020 have EA stock taking a beating after-hours Thursday. This is after reporting earnings per share of $1.18, which is below Wall Street’s estimate of $2.51 per share. Its revenue of $1.59 billion is also far from analysts’ estimates of $1.97 billion.

Electronic Arts Earnings: EA Stock Falls 2% After Releasing Q3 Results
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Here are some additional highlights from the most recent Electronic Arts earnings report.

  • Earnings per share for the quarter are up 37.21% from the 86 cents reported during the same time last year.
  • Revenue is sitting 23.26% above the $1.29 billion reported in its fiscal third quarter of 2019.
  • The Electronic Arts earnings report also has net income coming in at $346 million.
  • That’s a 32.06% increase over the company’s net income of $262 million from the same period of the year prior.

Andrew Wilson, Chief Executive Officer of Electronic Arts, has this to say about EA stock earnings.

“It was an excellent third quarter, with our new games and live services delighting more players around the world. “Our amazing creative teams at Electronic Arts continue to deliver some of the most high-quality, innovative and engaging experiences and content to a growing global audience.”

The Electronic Arts earnings report also includes its outlook for fiscal 2020. It is expecting per-share earnings of about $9.90 on revenue of $5.475 billion. For comparison, Wall Street is estimating EPS of $4.71 on revenue of $5.37 billion for the year.

EA stock was down 2.14% after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/01/electronic-arts-earnings-hit-ea-stock/.

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