Categories Earnings, Technology

Electronic Arts’ (EA) Q2 results beat expectations

Electronic Arts Inc. (NASDAQ: EA) beat revenue and earnings expectations for the second quarter of 2020. Shares were up 1.1% in aftermarket hours on Tuesday. 

Total revenue grew 5% to $1.35 billion versus the same period last year, beating estimates of $1.25 billion. 

Electronic Arts beats Q2 2020 earnings and revenue estimates

Net income rose to $854 million, or $2.89 per share, from $255 million, or $0.83 per share, in the prior-year period, driven by an income tax benefit of $2.11 per share. Analysts had forecast EPS of $0.85.   

During the quarter, digital net revenue grew 18% to $922 million. Net bookings increased 5% to $1.3 billion. Digital net bookings for the trailing 12 months rose 8% year-over-year to $3.8 billion.

COO and CFO Blake Jorgensen said, “Looking ahead, we are doubling down on live services combined with our core franchises. We’re investing in games that people play for longer and engage with much more deeply. This focus will continue to drive growth and profitability for the company through the remainder of this year and beyond.”

Also see: Electronic Arts Q2 2020 Earnings Preview

For the third quarter of 2020, Electronic Arts expects revenue of $1.51 billion. Net income is projected to be approx. $272 million while EPS is expected to be $0.92. Net bookings is estimated to be approx. $1.94 billion.

For full-year 2019, the company expects revenue of $5.41 billion. Net income is estimated to be approx. $2.8 billion and EPS is projected to be $9.57. Net bookings is expected to be approx. $5.1 billion.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Add Comment
Viewing Highlight