Electronic Arts shares fall after revenue beat
Electronic Arts Inc. shares fell nearly 6% in the extended session Thursday after the videogame maker reported better-than-expected net bookings. The company reported fiscal third-quarter net income of $346 million, or $1.18 a share, compared with $262 million, or 86 cents a share, in the year-ago period. Revenue rose to $1.59 billion from $1.29 billion in the year-ago period. EA reported fiscal third-quarter bookings of $1.98 billion, versus $1.61 billion in the year-ago period. Bookings are a common non-GAAP figure used by videogame companies to reflect digital and physical sales. Analysts surveyed by FactSet had estimated adjusted earnings of $2.51 a share on bookings of $1.97 billion. For the fiscal fourth quarter, analysts model adjusted earnings of 98 cents a share on bookings of $1.2 billion. The company said it expects fiscal fourth-quarter earnings of $1.05 a share on bookings of $1.15 billion. EA stock has gained 25% this year, with the S&P 500 index rising 22%.
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