Michael Pachter from Wedbush published an EA (NASDAQ: EA) earnings recap this morning that highlights strength in the quarter, the impact of the Mirror's Edge shift, upside from Star Wars, and a tough FIFA comp.

EA reported EPS of $0.65 compared to consensus of $0.44 and guidance of $0.40. FY guidance was raised by $0.15 to $3.00, reflecting the upside and the shift of one title, Mirror’s Edge Catalyst, from Q4:16 to Q1:17.

Revenue guidance was increased overall, and is consistent with Q3 performance and the game shift. However, the company lowered its digital revenue guidance by $50 million, likely reflecting slower full-game downloads than previously expected, as well as slower growth from its mobile business.

We estimate the shift impacts earnings by $0.10 in each year, meaning EA passed through the full upside.

EA faces a difficult comparison to last year’s FIFA World Cup for its Ultimate Team business but the company raised Star Wars expectations.

In May, management stated that FY:16 guidance assumed roughly 9 – 10 million units. The company did not provide a range last quarter; instead, it stated that EA was seeing “extremely strong” pre-orders out of E3. Over 9.5 million gamers played the beta, boding well for its success. On its earnings call, the company raised expectations for FY:16 to 13 million units.

Activision’s Call of Duty: Black Ops III is likely to be the game that Battlefront is compared to most, but the former (a favorite of gamers) will likely outsell the latter (a favorite of gift givers) in November due to an earlier release date and the network effect. When combined with the digital drain on NPD figures, EA shares have the potential to trade off when the November NPD data hits on December 10.

Reduced revenue and raised EPS estimates for F16 to $4.53B from $4.55B and $3.05 from $2.90 to reflect the shift of Mirror’s Edge Catalyst to FY:17. Maintained OUTPERFORM rating and raised 12-month price target to $86 from $84 on a 24 multiple of FY17 EPS of $3.60.

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Shares of Electronic Arts closed at $76.06 yesterday.