Electronic Arts Rises 7% Following Q4 Earnings, Guidance
Electronic Arts Inc. (NASDAQ: EA) were trading up 7.93 percent in lieu of its Q4 earnings report released after the market close. Electronic Arts reported an adjusted earnings per share of $0.50 vs. analyst estimates of $0.42. Sales came in at $924 million vs. estimates of $888.9 million.
"FY16 was a phenomenal year for Electronic Arts as we connected hundreds of millions of players to great new games, and helped them connect with each other through rich and dynamic live services," said Chief Executive Officer Andrew Wilson. This confirmation successfully expands Electronic Art's increasingly multiplayer gaming portfolio and adds to the company’s customer base, as the amount of unique players on EA sports during 2016 were up 65 percent from last year.
Electronic Arts continued to expand its grip over the diverse gaming sector as "EA was the #1 most downloaded mobile game publisher in calendar year 2015, according to App Annie."
The company sees FY17 sales at $4.9 billion vs. $4.68 billion estimates, while projecting EPS at $3.50 for FY17, inline with the analyst consensus.
Shares traded recently at $64.54, up 7.93 percent in the after-hours session.
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