Electronic Arts (NASDAQ:EA) shares fell nearly 4% in after-hours trading on Tuesday after the video games maker reported FQ1 results and offered guidance.
The company reported EPS of $1.14 on revenue of $1.92 billion, better than the consensus for earnings per share of $1.03 on sales of $1.59B. Net bookings surged 21% year-over-year to $1.58 billion, in line with the consensus.
"We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition,” said Stuart Canfield, CFO of EA. “Looking ahead, our teams remain focused on delivering long-term growth and profitability.”
For this quarter, the company sees net bookings of $1.75B, missing the analyst estimate of $1.81B. Adjusted EPS is seen at $1.20, again below the consensus for earnings per share of $1.50. Revenue is expected at $1.88B, while analysts were looking for $1.81B.
For FY24, the company expects to report EPS in the range of $6.35-6.95 on revenue of $7.3-7.7B, which compares to the consensus for earnings of $6.87 on revenue of $7.61B.