Categories AlphaGraphs, Earnings, Technology
Electronic Arts (EA) Q1 revenue and profit rise in double digits; guides FY23
Video game company Electronic Arts, Inc. (NASDAQ: EA) reported higher earnings and revenues for the first quarter of 2023. However, net bookings declined modestly.
During the June quarter, the company’s revenues increased 14% year-over-year to $1.77 billion, despite a 3% decrease in net bookings. The management also provided revenue guidance for the second quarter and full fiscal year.
The net profit of the Redwood City, California-based company rose to $311 million or $1.11 per share in the most recent quarter from $204 million or $0.71 per share in the first quarter of 2022.
Check this space to read management/analysts’ comments on Electronic Arts’ Q1 report
“Our expanding EA SPORTS portfolio and owned IP franchises continue to power resilience and longevity in our business. Our teams remain focused on what they do best – making amazing experiences that inspire new generations to play, watch, create, compete and connect,” said Andrew Wilson, CEO of Electronic Arts.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Broadcom (AVGO) thrives on growing AI business. Is the stock a buy?
Broadcom, Inc. (NASDAQ: AVGO), a leading provider of semiconductor solutions for wired and wireless communications, recently impressed the market with upbeat financial outlook highlighting strong prospects for its AI business
After a weak first half, will NIKE (NKE) hit the recovery path this year?
After a prolonged slowdown, NIKE, Inc. (NYSE: NKE) is working on a turnaround plan to regain the brand’s strength. In recent years, the sneaker giant’s overall performance has not been
Lennar (LEN): Even the best-laid plans can go wrong
Shares of Lennar Corporation (NYSE: LEN) stayed green on Monday. The stock has dropped 25% over the past three months. The homebuilder delivered underwhelming results for the fourth quarter of
