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

What to look for when Hormel Foods (HRL) reports Q4 2023 earnings

Shares of Hormel Foods Corporation (NYSE: HRL) were down over 1% on Monday. The stock has dropped 29% year-to-date. The food company is set to report its fourth quarter 2023 earnings

Kroger set to report Q3 results. Here’s everything you need to know

The Kroger Co. (NYSE: KR), a leading grocery retailer that operates both in-store and online, will be reporting earnings this week. The company, which is preparing to acquire rival retailer

Earnings Preview: Salesforce will likely deliver another strong quarter

Salesforce, Inc. (NYSE: CRM) achieved accelerated sales growth and profitability in recent quarters, in line with its transformation goal. The customer relationship management platform bets on new opportunities in generative

Add Comment
Viewing Highlight