Video game company Electronic Arts, Inc. (NASDAQ: EA) reported higher earnings and revenues for the fourth quarter of 2022. The top line also exceeded analysts’ estimates.
During the March quarter, the company’s revenues increased 36% year-over-year to $1.83 billion and came in above the consensus forecast. The top line benefitted from an 18% growth in net bookings to $1.75 billion.
Earnings of the Redwood City, California-based company rose to $225 million or $0.80 per share in the most recent quarter from $76 million or $0.26 per share in the fourth quarter of 2021.
Check this space to read management/analysts’ comments on Electronic Arts’ Q4 report
Shares of Electronic Arts experienced high volatility this year, with the recent market selloff adding to the weakness. The stock closed Tuesday’s regular session lower and continued to lose in the after-hours session.