EA’s calendar Q4 bookings grow 7% to $2.577B
Electronic Arts met expected earnings today for the third fiscal quarter ended December 31, as the game publisher saw big engagement with its existing games. But it lowered its annual adjusted sales forecast for the fiscal year that ends March 31.
Net bookings for the quarter were $2.577 billion, compared to $2.4 billion a year ago.
The Redwood City, California-based video game giant reported GAAP net income of $66 million, or 23 cents a share, on revenues of $1.789 billion, compared with net income of $211 million, or 72 cents a share, on revenue of $1.673 billion a year ago.
In after-hours trading, the stock is down 5% to $123 a share.
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EA’s stock price determines its value in the market, and it has to be wary about letting that slip, as Microsoft acquired Activision Blizzard for $68.7 billion after Activision Blizzard’s stock price slipped last fall. EA doesn’t want to get scooped up as a bargain basement deal because it missed a quarter or had one bad game.
Bookings reflect actual cash coming into the company, while revenues don’t include numbers that are yet to be realized, such as virtual goods that have been purchased but not used yet in games.
Analysts expected EA’s adjusted earnings per share for the quarter to be $3.23 a share, based on a consensus from analysts, on revenues of $2.67 billion.
For the trailing 12 months, EA reported net bookings of $7.254 billion, up from 22% from the prior year.
Andrew Wilson, the CEO of Electronic Arts, in a statement that EA ended the quarter with 540 million unique active accounts. EA has more than 180 million monthly active accounts across all platforms.
“FY22 has been a year of outstanding growth
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