![]() 30, compared to net income of $294 million for the same period last year. The company reported net income of $299 million for the three months that ended Sept. Meanwhile, EPS ended up at $1.07 per share, which also is higher than what Analysts expected at $0.92 per share. In the said quarter, Electronic Arts posted revenues of around $1.9 billion, slightly higher than what analysts anticipated at $1.8 billion. In a challenging time when major players across the board are missing expectations and downgrading guidance, Electronic Arts managed to beat both top and bottom-line analyst expectations in its Q2 2023 earnings results published on the 1st of November, further solidifying its position. ![]() The video game giant posted what might be considered an unexpectedly good earnings release on Tuesday. As a result, even if facing a single-digit negative return for the period, the industry pioneer managed to generate extraordinary year-to-date and year-over-year results outperforming the S&P 500 ( SPY ).ĮA and S&P500 YTD Results (Seeking Alpha) Electronic Arts Q2 FY23 earnings report This trend has ensued well into the third quarter of the year, given that the company just reported its latest earnings that were well received by investors and analysts alike. We initially outlined our position on the Redwood City-based entertainment giant earlier in January, but as we have stated in our latest coverage, the industry pioneer managed to carry itself extraordinarily well against the ongoing bear market sentiment and the recession-headed economy, much to our amazement. ![]() And the second interesting thing is that there seems to be more than one investor largely uninterested in the ongoing day-to-day results of Electronic Arts, most likely looking forward to a potential buyout by one of the major players in the space similar to the one involving Microsoft ( MSFT ) and Activision Blizzard ( ATVI ) earlier in the year. First, there's a high level of confidence among investors that the company is able to weather the ongoing difficulties and come out on the other end as an all-around more attractive value proposition. However, circumstances as of late have changed our mind in that regard. Electronic Arts ( NASDAQ: EA) was not the sort of company we initially expected is going to outperform during this challenging environment, let alone prove itself as a great defensive-oriented stock during the time.
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