Electronic Arts Clocks Q1 Beat, Stock Falls As Outlook Lags Street Expectations
Portfolio Pulse from Ryan Gustafson
Electronic Arts Inc. (NASDAQ:EA) reported Q1 results beating estimates with net bookings of $1.578 billion, up 21% YoY, and EPS of $1.47. However, the company's Q2 and FY 2024 outlook fell short of analyst expectations, causing the stock to fall in after-hours trading.
August 04, 2023 | 10:31 am
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Electronic Arts beat Q1 estimates but provided a weaker than expected outlook for Q2 and FY 2024, leading to a drop in its stock price.
Electronic Arts reported strong Q1 results, beating estimates. However, the company's outlook for Q2 and FY 2024 was weaker than expected, which is likely the reason for the drop in its stock price in after-hours trading. This suggests that investors may be concerned about the company's future performance.
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IMPORTANCE 80
RELEVANCE 100