{"id":43593,"date":"2023-08-02T13:52:05","date_gmt":"2023-08-02T17:52:05","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/electronic-arts-stock-falls-on-soft-bookings-forecast-ubs-cuts-rating\/"},"modified":"2023-08-02T13:52:06","modified_gmt":"2023-08-02T17:52:06","slug":"electronic-arts-stock-falls-on-soft-bookings-forecast-ubs-cuts-rating","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43593","title":{"rendered":"Electronic Arts stock falls on soft bookings forecast; UBS cuts rating"},"content":{"rendered":"
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\u00a9 Reuters. Electronic Arts (EA) stock falls on soft bookings forecast<\/span>
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Electronic Arts (NASDAQ:) shares fell more than 4% in pre-open Wednesday after the video games maker reported FQ1 results and offered guidance.<\/p>\n

The company EPS of $1.47 on revenue of $1.92 billion, better than the consensus for earnings per share of $1.03 on sales of $1.59B. Net bookings surged 21% year-over-year to $1.58B, in line with the consensus.<\/p>\n

“We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition,\u201d said Stuart Canfield, CFO of EA. \u201cLooking ahead, our teams remain focused on delivering long-term growth and profitability.\u201d<\/p>\n

For this quarter, the company sees net bookings of $1.75B, missing the analyst estimate of $1.81B. Adjusted EPS is seen at $1.20, again below the consensus for earnings per share of $1.50. Revenue is expected at $1.88B, while analysts were looking for $1.81B.<\/p>\n

For FY24, the company expects to report EPS in the range of $6.35-6.95 on revenue of $7.3-7.7B, which compares to the consensus for earnings of $6.87 on revenue of $7.61B.<\/p>\n

UBS analysts downgraded the EA stock in the aftermath of the FQ1 earnings report. Similarly, Roth MKM analysts “remain concerned about the development pipeline, both from a timing and an execution standpoint.”<\/p>\n

Oppenheimer analysts highlighted strength in the FIFA franchise, which helped offset weakness in Apex Legends.<\/p>\n

“Given EA’s strong financial position (margin, cash flows), long-term content pipeline, and broad-based momentum in EA Sports games, we reiterate Outperform.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Electronic Arts (EA) stock falls on soft bookings forecast Electronic Arts (NASDAQ:) shares fell more than 4% in pre-open Wednesday after the video games maker reported FQ1 results and offered guidance. The company EPS of $1.47 on revenue of $1.92 billion, better than the consensus for earnings per share of $1.03 on sales […]<\/p>\n","protected":false},"author":1,"featured_media":7027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-43593","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nElectronic Arts stock falls on soft bookings forecast; UBS cuts rating | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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