Electronic Arts Jumps On Q4 Earnings Beat, Stock Buyback Plan

Electronic Arts Jumps On Q4 Earnings Beat, Stock Buyback Plan

Video game publisher Electronic Arts (EA) late Tuesday reported earnings per share and sales that beat estimates for its fiscal fourth quarter, and announced a new $1.

2 billion, two-year stock repurchase program.

Under generally accepted accounting principles, Electronic Arts earned $1.

81 a share, down 35% year over year, on sales of $1.

53 billion up 17%, in the March quarter.

Analysts were expecting earnings of $1.

63 a share on revenue of $1.

49 billion EA stock was up 3.

9% in after-hours trading on the stock market today.

During the regular session, EA stock rose 0.

3% to 96.

01.

Fiscal 2017 was a milestone year for Electronic Arts, defined by groundbreaking games and live services that delivered more fun and connected more players with their friends," EA Chief Executive Officer Andrew Wilson said in a prepared statement.

He added: "In fiscal 2018, we are focused on innovating for our players with extraordinary new experiences across our portfolio continuing to grow our global network, and extending our reach across new platforms and more ways to play.

".

Source: Youtube