Electronic Arts (NASDAQ:EA) surged more than 4% on Thursday after the company reported FQ2 results, with EPS of $1.46 coming in better than the consensus estimate of $1.25.
Revenue was $1.91 billion, beating the consensus estimate of $1.77B. Net bookings grew 4% year-over-year (up 5% in constant currency) to $1.82B.
“We delivered a strong Q2 and successfully launched EA SPORTS FC, transforming one of the largest franchises in the world into a powerful, interactive platform for the future of football fandom,” said CEO Andrew Wilson.
The company expects Q3/24 EPS to be in the range of $2.70-$3.00, compared to the consensus of $2.79, and net revenue of $1.825-$2.025B, compared to the consensus of $2.33B.
For the full year, EPS is seen at $6.60-$7.20, compared to the consensus of $6.83, and net revenue at $7.300-$7.700B, compared to the consensus of $7.57B.
Analysts at Goldman Sachs said EA delivered "a solid set of results."
"Longer term, we still frame EA as a company with growth mostly driven by their core portfolio, mobile strategy, international expansion, M&A opportunities and organic projects, and long-term EBITDA margin expansion to be realized in the out years," they wrote.
Additional reporting by Senad Karaahmetovic