Electronic Arts’ (NASDAQ: EA) fourth quarter 2020 financial results beat the market’s estimates. However, lower-than-expected earnings outlook for fiscal 2021 dragged EA’s stock price in the extended-hours of the trading session. For Q4, the gaming firm reported earnings of $1.43 per share on revenue of $1.39 billion. This compares to the analysts’ EPS target of $0.98 and the revenue target of $1.19 billion.
As more people have been staying at home due to the lockdown raised out of the global pandemic, Electronic Arts experienced heightened levels of engagement during the quarter.
The Redwood City, California-based firm expects fiscal 2021 earnings to be $3.35 per share on revenue of $5.53 billion. Wall Street had projected the company to earn $4.96 per share for the current year. Shares of Electronic Arts, which hit a new 52-week high today, dropped about 4% after the earnings announcement.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard