Electronic Arts Earnings: Here’s Why Investors are Happy Now
Electronic Arts Inc. (NASDAQ:EA) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.1%.
Electronic Arts Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.4 in the quarter versus EPS of $-0.41 in the year-earlier quarter.
Revenue: Decreased 48.17% to $495 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Electronic Arts Inc. reported adjusted EPS loss of $0.4 per share. By that measure, the company beat the mean analyst estimate of $-0.6. It beat the average revenue estimate of $453.75 million.
Quoting Management: “EA had a solid quarter driven by continued digital growth and disciplined cost management,” said Executive Chairman Larry Probst. “We are also executing on a clear set of goals for leadership on mobile, PC, current and next generation consoles.
Key Stats (on next page)…