Electronic Arts Inc shares rose after the bell Tuesday as the video game producer brought in record net bookings in its fiscal fourth quarter.
For the period ended March 31, EA posted revenue of $1.87 billion, up from $1.83 billion a year earlier and topping Street expectations of $1.76 billion. The company’s loss was $0.04 per share, compared to a profit of $0.80 per share a year ago.
Net bookings came in at $1.95 billion in the quarter, 11% higher year-over-year, compared with Refinitiv estimates of $1.76 billion.
Some of that success is due to FIFA 23, which has surpassed lifetime sales of FIFA 22 in the six months since its launch, making it the most successful launch in the franchise’s history.
EA shares rose 4.4% to $130.95 in after-hours trading.
“Our teams continue to create high-quality entertainment, fueled by amazing games and deeply engaging live services,” CEO Andrew Wilson said in a statement. “We're excited to continue our momentum, including the highly anticipated launch of EA SPORTS FC later this year.”
Looking ahead, EA projects fiscal 2024 revenue between $7.3 billion and $7.7 billion, with diluted earnings per share between $3.30 and $3.81.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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