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Electronic Arts Inc (NASDAQ:EA) shares are on the move in Tuesday's after-hours session after the company reported fourth-quarter financial results.
What Happened: EA reported fourth-quarter revenue of $1.874 billion. The company said net bookings increased 11% year-over-year to $1.946 billion, driven by strong live services performance and increased engagement, particularly from the FIFA franchise.
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EA said FIFA '23 surpassed the lifetime sales of FIFA '22 in six months' time, making it the most successful launch in franchise history. Apex Legends is also seeing strong interest, with Season 16 peak weekly active users up 20% over the previous season. The Sims 4 player network has grown to more than 70 million.
"Our teams continue to create high quality entertainment, fueled by amazing games and deeply engaging live services. We're excited to continue our momentum, including the highly anticipated launch of EA SPORTS FC later this year," said Andrew Wilson, CEO of EA.
EA expects full-year 2024 revenue to be between $7.3 billion and $7.7 billion versus a consensus of $7.54 billion. Full-year earnings are expected to be between $3.30 and $3.81 per share.
EA also declared a quarterly cash dividend of 19 cents per share, payable on June 21.
See Also: Why Twilio Stock Is Tumbling After Hours
EA Price Action: EA shares were up 3.67% after hours at $130.01 at the time of writing, according to Benzinga Pro.
Photo: StockSnap from Pixabay.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.