Electronic Arts Shares Up 3% on Q1 Beat, Provides 2023 Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/EA'>Electronic Arts Inc. (NASDAQ:EA)</a> shares closed more than 3% higher today following the company’s reported Q1 results, with EPS of $1.11 coming in better than the Street estimate of $0.33. Net bookings came in at $1.3 billion, compared to the consensus estimate of $1.26 billion.</p>
<p>Total net bookings declined 3% year-over-year due to one game launch in Q1 versus two a year ago, but partially offset by FIFA's strength, the Playdemic acquisition, and the launch of Apex Legends Mobile. Live Services grew 8% year-over-year and accounted for 73% of TTM Net Bookings.</p>
<p>The company maintained its full 2023-year net bookings/non-GAAP EPS targets despite incrementally stronger FX headwinds for the remaining three quarters of 2023. The company expects 2023 net bookings in the range of $7.9-8.1 billion, compared to the Street estimate of $7.99 billion.</p>

NASDAQ:EA