Electronic Arts Inc. (NASDAQ:EA) shares are trading higher in Wednesday’s after-hours session following the release of the company’s second-quarter financial results. Here’s a summary of the performance.
What To Know: Electronic Arts reported earnings of $1.47 per share, beating estimates of $1.25 per share. It represents a year-over-year increase of 27% from $1.07 in the same period last year.
The company reported total bookings of $1.82 billion, beating estimates of $1.77 billion.
It is also worth noting that the EA SPORTS Madden NFL franchise outperformed expectations, posting net bookings growth of 6% year-over-year.
Electronic Arts sees third-quarter net revenue between approximately $1.825 billion to $2.025 billion. Earnings are estimated to be approximately between 75 cents to $1.01 per share.
The company also issued full-year 2024 guidance, with net revenue expected to be between approximately $7.300 billion to $7.700 billion and earnings to be between approximately $4.10 to $4.66.
“We delivered a strong Q2 and successfully launched EA SPORTS FC, transforming one of the largest franchises in the world into a powerful, interactive platform for the future of football fandom,” said Andrew Wilson, CEO of EA. “Looking ahead, our incredible teams will continue to innovate and expand across our world-class IP, building experiences that entertain our massive online communities, celebrate fandom, and increase connection for our growing global player base.”
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EA Price Action: Shares of EA were up 3.41% at $128.00 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Olya Adamovich from Pixabay
