{"id":43617,"date":"2023-08-02T15:15:32","date_gmt":"2023-08-02T19:15:32","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ea-stock-falls-following-earnings-report-forecast\/"},"modified":"2023-08-02T15:15:34","modified_gmt":"2023-08-02T19:15:34","slug":"ea-stock-falls-following-earnings-report-forecast","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43617","title":{"rendered":"EA stock falls following earnings report, forecast"},"content":{"rendered":"
\n

Electronic Arts Inc. shares fell in the extended session Tuesday after the videogame publisher\u2019s revenue forecast for the current quarter fell short of the Wall Street consensus.<\/p>\n

EA
\n EA,
\n -7.21%<\/bg-quote>
\n shares declined more than 3% after hours, following a 0.1% slip in the regular session to close at $136.12 At Tuesday\u2019s close, the stock was up 11.4% year to date, compared with a 36.5% rise in the tech-heavy Nasdaq Composite Index
\n COMP,
\n -2.19%<\/bg-quote>,<\/span>
\n and a 19.5% advance by the S&P 500 index
\n SPX,
\n -1.38%<\/bg-quote>.<\/span>\n <\/p>\n

\n

EA forecast second-quarter earnings of 72 cents a share to 89 cents a share on revenue of $1.83 billion to $1.93 billion, and bookings of $1.7 billion to $1.8 billion. <\/p>\n

For 2024, the company forecast net revenue and bookings of $7.3 billion to $7.7 billion, and earnings of $3.42 to $3.92 a share, without an adjusted figure. <\/p>\n

Analysts estimate second-quarter earnings of $1.50 a share on revenue of $1.95 billion and bookings of $1.82 billion. For the year, analysts expect full-year earnings of $6.87 a share on revenue of $7.63 billion and bookings of $7.6 billion.<\/p>\n

The company reported fiscal first-quarter net income of $402 million, or $1.47 a share, compared with $311 million, or $1.11 a share, in the year ago period. EA did not specify an adjusted per-share figure.<\/p>\n

Revenue rose to $1.92 billion from $1.79 billion in the year-ago quarter, while net bookings for the quarter, which account for deferred revenue, were $1.58 billion.<\/p>\n

Analysts had forecast unadjusted earnings of $1.10 a share, adjusted earnings of $1.02 a share on revenue of $1.92 billion, and bookings of $1.9 billion. EA had forecast unadjusted earnings of 98 cents to $1.14 a share on net revenue of $1.83 billion to $1.93 billion, and net bookings of $1.5 billion to $1.6 billon. <\/p>\n<\/p><\/div>\n<\/div>\n

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

Electronic Arts Inc. shares fell in the extended session Tuesday after the videogame publisher\u2019s revenue forecast for the current quarter fell short of the Wall Street consensus. EA EA, -7.21% shares declined more than 3% after hours, following a 0.1% slip in the regular session to close at $136.12 At Tuesday\u2019s close, the stock was […]<\/p>\n","protected":false},"author":1,"featured_media":43618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-43617","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nEA stock falls following earnings report, forecast | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Electronic Arts Inc. shares fell in the extended session Tuesday after the videogame publisher\u2019s revenue forecast for the current quarter fell short of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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