By Yasin Ebrahim
Investing.com - Electronic Arts (NASDAQ:EA) reported Tuesday mixed fourth-quarter results as earnings missed, but revenue beat expectations.
The company shares fell 1% in after-hours trade following the report.
Electronic Arts announced earnings per share of $0.26 on revenue of $1.49B. Analysts polled by Investing.com anticipated EPS of $1.05 on revenue of $1.39B.
Shares are down 1% from the beginning of the year, still down 5.97% from its 52 week high of $150.30 set on January 25. They are under-performing the Nasdaq which is up 3.89% from the start of the year.
Net bookings, the number of products and services sold digitally or sold-in physically, grew 15% to $1.49 billion, driven by sales of games such as Apex Legends, FIFA 21 and The Sims.
"Apex steadily grew through the last year, driven by the games team and the content they are delivering,” said COO and CFO Blake Jorgensen.
Looking ahead, the company forecast fiscal 2022 diluted earnings per share to be approximately $1.34 on revenue of $6.8 billion. Net bookings is expected to be about $7.3 billion for the year.
“Looking forward, the momentum in our existing live services provides a solid foundation for FY22. Combined with a new Battlefield and our recent acquisitions, we expect net bookings growth in the high teens,” Jorgensen added.
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