In its latest Q3 report, Electronic Arts Inc (EA) revealed an increase in earnings compared to the same period last year, even though the figures fell short of Wall Street's expectations.
The video game company generated earnings of $290 million, which equates to $1.07 per share. This demonstrates progress when contrasted with the third quarter of the previous year, during which EA posted earnings of $204 million, or $0.73 per share.
Despite this growth, EA didn't manage to meet the expectation of financial analysts, who had predicted earnings of $2.93 per share. The estimates put forward by these analysts typically dismiss any special items.
In terms of revenue, EA enjoyed a 3.7% increase, with earnings rising from the previous year's figure of $1.88 billion to $1.95 billion.
To recap Electronic Arts Inc's Q3 performance (according to GAAP), the company experienced a surge in earnings from $204 million during Q3 of the previous year to $290 million. The earnings per share also improved from $0.73 in the previous year to $1.07, despite the analysts' estimate of $2.93. The company's revenue also grew to $1.95 billion from $1.88 billion recorded last year.
Looking ahead to the next quarter, EA expects a per-share earning ranging from $0.20 to $0.68 and revenue figures projected to be within the $1.625-$1.925 billion margin. For the full year, EA predicts its per-share earnings to be somewhere between $4.21 and $4.68, with annual revenue falling within the range of $7.408-$7.708 billion.
