Electronic Arts Inc. (NASDAQ:EA) on Wednesday reported fiscal second-quarter results that topped analysts’ estimates and raised its full-year profit projection on its expectations that its revamped soccer franchise 'FC 24' will continue to drive growth.
The California-based video game company said it now expects earnings per share (EPS) in the range of $4.10 to $4.66, up from its prior forecast of $3.42 to $3.92.
For 2Q, which ended September 30, 2023, the company reported net bookings of $1.82 billion, up 4% year-over-year and ahead of Street estimates of $1.77 billion.
Total revenue was $1.91 billion, up slightly from $1.90 billion in the year-ago quarter.
EPS improved from $1.07 in 2Q 2022 to $1.47, above estimates of $1.25.
“We delivered a strong 2Q 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,” EA CEO Andrew Wilson said in a statement.
“Looking ahead, our incredible teams will continue to innovate and expand across our world-class intellectual property (IP), building experiences that entertain our massive online communities, celebrate fandom, and increase connection for our growing global player base.”
EA’s shares moved higher following its earnings report, up 5.1% at about $130 in afterhours trading.
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