Electronic Arts Reports Q4 Loss, but Revenue Tops Estimates; FY Guidance in-Line

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Electronic Arts Reports Q4 Loss, but Revenue Tops Estimates; FY Guidance in-Line

StreetInsider2023-05-09

Electronic Arts reported Tuesday a fiscal fourth-quarter loss, though revenue topped Wall Street estimates, driven by stronger demand for its FIFA franchise.

Electronic Arts Inc gained 2.6% in after-hours trading following the report.

Electronic Arts announced a loss of $0.04 a share on revenue of $1.87 billion. Analysts anticipated EPS of $0.42 on revenue of $1.75B.

Net bookings for Q4 rose to $1.95B, up 11% from the same period a year ago.

"Record live services performance and increased engagement, particularly from our EA SPORTS FIFA franchise, drove better-than-expected Q4 net bookings, capping a strong finish to the fiscal year," the company said.

Looking to fiscal 2024, the company guided EPS in a range of $3.30 to $3.81 on revenue of between $7.3B and $7.7B, in line with estimates of $3.69 and $7.54B, respectively. Net bookings are expected to be approximately $7.30B to $7.7B, the company said.

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Big Little
·2023-05-09
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