Why Electronic Arts Shares Are Rising Today
Electronic Arts Inc (NASDAQ:EA) shares are trading higher Wednesday after the company announced preliminary financial results and issued guidance.
Electronic Arts reported preliminary fourth-quarter revenue of $1.825 billion, which is up from $1.35 billion year-over-year. The company reported preliminary earnings of 80 cents per share, which is up from 26 cents per share year-over-year.
EA said net bookings for fiscal 2022 totaled $7.52 billion, up 21% year-over-year. The EA player network grew 16% year-over-year to more than 580 million unique active accounts.
Net cash provided by operating activities totaled $444 million in the fourth quarter and $1.899 billion for the fiscal year.
EA declared a quarterly cash dividend of 19 cents per share, representing a 12% increase from the prior quarter.
Full-year 2023 revenue is expected to be between $7.6 billion and $7.8 billion. Full-year 2023 earnings are expected to be in a range of $2.79 to $2.87 per share. The company expects net bookings of $7.9 billion to $8.1 billion.
EA 52-Week Range: $109.24 - $148.93
The stock was up 10.5% at $123.35 at time of publication.
Photo: Paul Downey from Flickr.