Electronic Arts (EA) Posts Q3 Loss of $0.60/Share, Boosts Q4 Outlook
Electronic Arts (NASDAQ: EA) reported Q3 EPS of ($0.60), which does not compare to analyst estimate of $2.19. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.15 billion.
During the three months ended December 31, 2017, EA recognized $176 million of incremental income tax expense, or approximately $0.57 per share, due to the application of the Tax Cuts and Jobs Act, enacted on December 22, 2017.
GUIDANCE:
Electronic Arts sees Q4 2018 EPS of $1.86, versus the consensus of $1.08. Electronic Arts sees Q4 2018 revenue of $1.532 billion, versus the consensus of $1.18 billion.
“Players enjoyed hundreds of millions of hours in our games across console, mobile and PC during the holiday quarter, and we’re thrilled to see our titles driving excitement for more fans around the world,” said Chief Executive Officer Andrew Wilson. “We’re expanding the reach of our top franchises across more geographies, our competitions are growing in participation and viewership, and we’re continuing to grow our network with more amazing games and content coming this quarter and beyond.”
“Our diversity in portfolio, platforms, geographies, and business models is the foundation of a robust business that enables us to deliver dependable cash flow,” said Chief Financial Officer Blake Jorgensen. “Through the fourth quarter and fiscal 2019, we’ll be launching games across five different genres, on three different platforms, and to players around the world. We expect growth in full-game downloads, subscriptions, extra content, and in our mobile business.”
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