Electronic Arts Inc. shares fell in the extended session Tuesday after the videogame publisher’s revenue forecast for the current quarter fell short of the Wall Street consensus.
EA EA,
EA forecast second-quarter earnings of 72 cents a share to 89 cents a share on revenue of $1.83 billion to $1.93 billion, and bookings of $1.7 billion to $1.8 billion.
For 2024, the company forecast net revenue and bookings of $7.3 billion to $7.7 billion, and earnings of $3.42 to $3.92 a share, without an adjusted figure.
Analysts estimate second-quarter earnings of $1.50 a share on revenue of $1.95 billion and bookings of $1.82 billion. For the year, analysts expect full-year earnings of $6.87 a share on revenue of $7.63 billion and bookings of $7.6 billion.
The company reported fiscal first-quarter net income of $402 million, or $1.47 a share, compared with $311 million, or $1.11 a share, in the year ago period. EA did not specify an adjusted per-share figure.
Revenue rose to $1.92 billion from $1.79 billion in the year-ago quarter, while net bookings for the quarter, which account for deferred revenue, were $1.58 billion.
Analysts had forecast unadjusted earnings of $1.10 a share, adjusted earnings of $1.02 a share on revenue of $1.92 billion, and bookings of $1.9 billion. EA had forecast unadjusted earnings of 98 cents to $1.14 a share on net revenue of $1.83 billion to $1.93 billion, and net bookings of $1.5 billion to $1.6 billon.