Particle.news

Download on the App Store

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.

Image
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
Image
Image

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.