The opening share price of Electronic Art, Inc (EA) during the recent trading session on February 2, 2022, was $125.72. At the last check, the share price in the recent trading session, the stock gained 3.96% to $135.09 at 12:43 PM EST. The EA stock price increased following quarterly results. However, the company missed earnings expectations and has lowered its annual adjusted sales forecast.
Electronic Art Inc is a video game company, which is headquartered in Redwood City, California. The company was founded in 1982. Electronic Arts Inc provides games, content, and online services for Internet-connected consoles, mobile phones, and personal computers. EA has more than 450 million registered players around the world.
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Financials
The company released its financial report for the Q3 of FY22, which ended on December 31, 2021. The financial report was released on February 1, 2022.
Net cash due to operating activities was recorded at $1.534 billion for Q3 of FY22. The cash dividend per share was $0.17 per share. Total net revenue was recorded to be $1789 million while net income was $66 million. Adjusted earnings came in at $1.38 per share, compared with the consensus estimate of $1.49.
Executive’s Remarks
The Chief Executive Officer (CEO) of the company said that the Fiscal Year 2022 has been a year of outstanding growth for them. He further added that their network of 540 million active accounts continues to expand.
The Chief Financial Officer (CFO) of the company said that Q3 was the largest quarter in the company’s history. He further said that their portfolio approach will enable them to deliver organic growth in the double digits, and a strong foundation for the growth, this year.
Conclusion
During the last 6 months, the stock price of the Electronic Arts, Inc (EA) fluctuated quite a lot. In November, the company delivered its exceptionally expected Battlefield 2042 game. Early reviews were blended, as some gamers condemned bugs. On Steam, the most notable PC game retail facade, just 31% of the 92,367 reviews were positive. Prior to Tuesday, the company recognized player worries with the game in a blog entry and said it was focusing on bringing the game up to the best expectations.
