Electronic Arts Earnings: Here’s Why the Stock is Up Now
Electronic Arts Inc. (NASDAQ:EA) delivered a profit and missed Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 7.01%.
Electronic Arts Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 223.53% to $0.55 in the quarter versus EPS of $0.17 in the year-earlier quarter.
Revenue: Decreased 23.98% to $1.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Electronic Arts Inc. reported adjusted EPS income of $0.55 per share. By that measure, the company missed the mean analyst estimate of $0.58. It met the average revenue estimate of $1.04 billion.
Quoting Management: “As we enter a new fiscal year, EA is well-positioned for dynamic growth on next generation consoles, PCs, and mobile platforms,” said Executive Chairman Larry Probst. “With world-class games, a rapidly growing digital business, and top-notch creative talent, we are excited about EA’s strategy for FY 2014 and beyond.”
Key Stats (on next page)…