Electronic Arts (EA) reported mixed financial results for the fiscal year and the fourth quarter. The company's FY24 revenue reached $1.77 billion with net revenue totaling $7.562 billion, marking a 2% increase year-over-year. EA also achieved a record in net cash provided by operating activities, amounting to $2.315 billion, a 49% increase from the previous year. Diluted earnings per share were $0.67. However, the company missed its quarterly revenue target by $0.01 and reported a decline in Q4 revenue by 5% year-over-year to $1.78 billion. Net income for Q4 was $182 million, with net bookings down 14% to $1.67 billion. Looking ahead, EA provided guidance for Q1 and FY25, forecasting EPS in line with expectations but projecting revenues below consensus for both periods. Additionally, EA announced a three-year $5 billion stock buyback program. The company also forecasted full-year bookings for the coming year that fell below Wall Street's expectations.
Electronic Arts' net bookings are down over the last 2 years. $EA down 3% after hours https://t.co/pBuTm1TJhw
EA reports Q4 revenue down 5% YoY to $1.78B, net income of $182M, net bookings down 14% YoY to $1.67B, and announces a three-year $5B stock buyback (@brendansinclair / https://t.co/r0l8RgfWYZ) https://t.co/WxK2Ugpgt4 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/Pspt2ttYOv
Not a good day for games. EA misses targets and lowers forecasts for annual bookings #EA $EA #games https://t.co/1z6fK9wN0l via @GamesBeat
Video game publisher Electronic Arts forecasted full-year bookings for the coming year that fell below Wall Street's expectations. https://t.co/2xyIfDgf9V
Electronic Arts misses by $0.01, misses on revs; guides Q1 EPS in-line, revs below consensus; guides FY25 EPS below consensus, revs below consensus $EA
$EA Earnings: - Revenue: $1.77 billion - Diluted earnings (loss) per share: $0.67 - Net revenue for FY24 was $7.562 billion, up 2% year-over-year. - For FY24, net cash provided by operating activities was a fiscal year record $2.315 billion, up 49% year-over-year. - Net bookings… https://t.co/HTCLxHcxnD