Electronic Arts Inc. (EA) Releases Earnings Results, Misses Expectations By $0.73 EPS

Electronic Arts Inc. (NASDAQ:EA) announced its quarterly earnings data on Tuesday. The game software company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.73), Briefing.com reports. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned ($0.13) earnings per share.

Electronic Arts (NASDAQ EA) traded up 1.72% during midday trading on Tuesday, hitting $119.60. 5,477,404 shares of the stock traded hands. The firm has a market cap of $36.92 billion, a PE ratio of 32.02 and a beta of 0.70. The stock has a 50-day moving average of $117.27 and a 200 day moving average of $111.88. Electronic Arts has a 52-week low of $73.74 and a 52-week high of $122.79.

EA has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Electronic Arts in a research note on Monday, July 17th. They issued a “buy” rating and a $130.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 price objective (up from $123.00) on shares of Electronic Arts in a research note on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $128.00 price objective on shares of Electronic Arts in a research note on Thursday, October 12th. Bank of America Corp raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Wednesday, July 26th. Finally, BidaskClub raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.75.

In other Electronic Arts news, Director Lawrence F. Probst III sold 55,850 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $121.18, for a total transaction of $6,767,903.00. Following the completion of the transaction, the director now owns 171,123 shares in the company, valued at approximately $20,736,685.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $119.56, for a total value of $1,202,534.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,038 shares of company stock valued at $21,929,310. 2.55% of the stock is owned by company insiders.

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Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

Earnings History for Electronic Arts (NASDAQ:EA)

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