Electronic Arts (EA) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.03. The company posted revenue of $682.00 million in the period, compared to analysts expectations of $650.42 million. The company’s revenue was down -1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 93.80 from a previous price target of $82.64 .Company shares were Reiterated by Stifel on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $81 .Company shares were Reiterated by The Benchmark Company on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 82.64 from a previous price target of $81.48 .
Electronic Arts opened for trading at $76.48 and hit $76.53 on the upside on Friday, eventually ending the session at $76.32, with a gain of 0.05% or 0.04 points. The heightened volatility saw the trading volume jump to 29,11,113 shares. Company has a market cap of $23,019 M.
In a different news, on Jul 25, 2016, Blake J Jorgensen (EVP & Chief Financial Officer) sold 10,100 shares at $76.44 per share price. According to the SEC, on Jul 14, 2016, Gabrielle B Toledano (EVP, Chief Talent Officer) sold 15,000 shares at $78.55 per share price. On Jul 12, 2016, Patrick Soderlund (EVP, EA Studios) sold 50,000 shares at $78.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Electronic Arts Inc is a game software content and services provider. The Company develops markets publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Companys brands include Battlefield Mass Effect Need for Speed Dragon Age The Sims Bejeweled and Plants v. Zombies as well as brands based on licensed intellectual property such as FIFA Madden NFL and Star Wars. The Company is organized around three divisions: EA Studios Maxis and EA Mobile. The EA Studios division develops games and related content and services across a range of game categories including the FIFA Madden NFL Need for Speed Battlefield Mass Effect and Dragon Age. The Maxis division creates games and related content and services that engage player creativity. The EA Mobile division focuses on developing and publishing interactive games for mobile phones and tablets.