Electronic Arts Inc. shares fell in the extended session Tuesday after the videogame publisher’s revenue forecast for the current quarter fell short of the Wall Street consensus. EA
EA,
-0.17%
shares declined more than 3% after hours, following a 0.1% slip in the regular session to close at $136.12 At Tuesday’s close, the stock was up 11.4% year to date, compared with a 36.5% rise in the tech-heavy Nasdaq Composite Index
COMP,
-0.43%,
and a 19.5% advance by the S&P 500 index
SPX,
-0.27%.
EA forecast second-quarter earnings of 72 cents a share to 89 cents a share on revenue of $1.83 billion to $1.93 billion, and bookings of $1.7 billion to $1.8 billion. For 2024, the company forecast net revenue and bookings of $7.3 billion to $7.7 billion, and earnings of $3.42 to $3.92 a share, without an adjusted figure. Analysts estimate second-quarter earnings of $1.50 a share on revenue of $1.95 billion and bookings of $1.82 billion. For the year, analysts expect full-year earnings of $6.87 a share on revenue of $7.63 billion and bookings of $7.6 billion. The company reported fiscal first-quarter net income of $402 million, or $1.47 a share, compared with $311 million, or $1.11 a share, in the year ago period. EA did not specify an adjusted per-share figure. Revenue rose to $1.92 billion from $1.79 billion in the year-ago quarter, while net bookings for the quarter, which account for deferred revenue, were $1.58 billion. Analysts had forecast unadjusted earnings of $1.10 a share, adjusted earnings of $1.02 a share on revenue of $1.92 bi …
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