Star Wars, FIFA Help Electronic Arts Earn Upbeat Q1, Yet Shares Slide: 4 Analyst Takes
Portfolio Pulse from Priya Nigam
Electronic Arts Inc (NASDAQ:EA) shares fell despite reporting strong Q1 results for fiscal 2024. Analysts from Benchmark, Truist, Wedbush, and Roth Capital Partners provided mixed reviews, with some maintaining Buy ratings while others reduced price targets. The success of EA Sports FIFA and Star Wars Jedi: Survivor contributed to the company's growth, but Q2 guidance was lower than expected due to Apex Legends weakness and marketing investments.
August 04, 2023 | 11:36 am
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Electronic Arts reported strong Q1 results but shares fell due to lower than expected Q2 guidance. Analysts provided mixed reviews, with some maintaining Buy ratings while others reduced price targets.
Electronic Arts reported strong Q1 results, driven by the success of EA Sports FIFA and Star Wars Jedi: Survivor. However, the company's shares fell due to lower than expected Q2 guidance, reflecting Apex Legends weakness and marketing investments. This mixed performance and outlook have led to varied analyst ratings, which could create uncertainty in the market and negatively impact the company's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100