2023-08-01 16:15:08 ET
- Electronic Arts press release ( NASDAQ: EA ): Q1 Non-GAAP EPS of $1.47 beats by $0.45 .
- Revenue of $1.58B (+21.5% Y/Y) misses by $10M .
- Shares -3% .
- Record Q1 Net Bookings, up 21% year-over-year, driven by EA SPORTS FIFA Momentum and Star Wars Jedi: Survivor
- Live services and other net bookings for Q1 was $1.177 billion, up 4% year-over-year (up 7% in constant currency) and represented 75% of total net bookings.
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Fiscal Year 2024 Expectations – Ending March 31, 2024
Financial metrics:
- Net revenue is expected to be approximately $7.300 billion to $7.700 billion.
- No change in deferred net revenue (online-enabled games) is expected.
- Net income is expected to be approximately $947 million to $1.087 billion.
- Diluted earnings per share is expected to be approximately $3.42 to $3.92.
- Operating cash flow is expected to be approximately $1.700 billion to $1.850 billion.
- The Company estimates a share count of 277 million for purposes of calculating fiscal year 2024 diluted earnings per share.
Operational metric:
- Net bookings is expected to be approximately $7.300 billion to $7.700 billion.
- Net revenue is expected to be approximately $7.300 billion to $7.700 billion.
For further details see:
Electronic Arts Non-GAAP EPS of $1.47 beats by $0.45, revenue of $1.58B misses by $10M