Electronic Arts Up 6.57% After Hours
Electronic Arts (NASDAQ: EA) released earnings Tuesday after the bell, reporting Q4 EPS of $0.55 versus the estimated $0.58, missing by $0.03.
EPS were Up 224 percent from the same quarter last year, while revenue came in at $1.04B versus the estimated $1.04B. Sales were up six percent year over year.
The earnings report followed news on Monday that the company announced a multi-year Star Wars deal with Disney (NYSE: DIS) to develop and publish new Star Wars game titles while Disney retains rights. The new games are intended to be entirely original with all new stories, according to the press release.
EA's earnings report came in strong overall compared to the year ago period. Analyst Justin Post at Bank of America had anticipated in-line results with revenues and EPS at or below the low end of guidance.
In his report dated May 6, Post wrote, "NPD sales data showed EA's US and UK retail sales were down 35% y/y in F4Q vs. our estimate for EA's product revenue down 9% y/y, and several key releases were weak in the quarter. We are below consensus at revenue of $1.02bn vs. $1.04bn, and EPS at $0.55 vs. $0.58. Not a good Q with more franchises missing, but well known."
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