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3w ago

Electronic Arts Beats Q1 Estimates, Guides Q2 Bookings Below Forecasts

The company cited cautious consumer spending in guiding Q2 net bookings below Wall Street forecasts.

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A smartphone with the Electronic Arts logo is seen in front of a displayed stock graph in this illustration taken September 16, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • EA reported non-GAAP diluted EPS of $0.79 and net bookings of $1.3 billion for Q1, exceeding analyst expectations.
  • Better-than-expected contributions from EA Sports franchises, Apex Legends and back catalog titles powered the quarter, highlighted by a record performance for FC Mobile.
  • The publisher forecast Q2 net bookings of $1.80 billion to $1.90 billion, missing the $2.01 billion consensus estimate compiled by LSEG.
  • Electronic Arts reaffirmed its full-year net bookings and revenue targets, underscoring confidence in its live-service strategy and content pipeline.
  • EA confirmed it will not raise game prices to $80 and pointed to an upcoming slate of releases including Battlefield 6 and Skate.