The video game maker offered second fiscal quarter guidance of $1.05-$1.10 billion in revenue, short of the consensus estimate of $1.08 billion, and adjusted EPS guidance of $0.07-$0.12, again short of the consensus estimate of $0.14. Full-year guidance for calls for EPS of $1.05-$1.20 and full-year revenue of $4.10-$4.25 billion. Full-year guidance is again short of the current consensus estimate of $4.31 billion in revenue, but better than the consensus EPS estimate of $1.07.
The company’s CFO did a little cheerleading:
We had a solid first quarter and are reconfirming non-GAAP guidance of annual earnings per share growth of 30% at the midpoint of our guidance. The $500 million stock buyback demonstrates our confidence in EA’s future.
Electronic Arts today also announced a free-to-play option for its “Star Wars: The Old Republic” game.The free-to-play option includes access to eight storylines up to game level 50.
The company also said it would repurchase $500 million in stock.
Shares are up 1.6% in after-hours trading at $211.02, after posting a new 52-week low in regular trading today of $10.77. The current 52-week range is $10.77-$26.13. Thomson Reuters had a consensus analyst price target of $19.19 before today’s results were announced.
Paul Ausick
Top Gaining Stocks
Top Losing Stocks