As this season of quarterly earnings results continues, Electronic Arts is one of the latest up on deck with the close of its Q3 2022. The company just put out its latest earnings results to go with the quarter close and while it had some boasts to share in terms of total net bookings, profitability, and total active users, it couldn’t come up with the revenue to beat lofty Wall Street expectations.
Electronic Arts (EA) Q3 2022 earnings results
Electronic Arts put out its official release of its Q3 2022 earnings results via its investor relations website on February 2, 2022. The company boasted several highlights of the previous quarter.
“Q3 was the largest quarter in the company’s history for net bookings, underlying profitability and cash generation,” claimed CFO Blake Jorgensen.
In addition, the company shared that it had a record number of active account users playing EA games across its entire ecosystem - an estimated total of 540 million accounts overall. However, it couldn’t overcome Wall Street revenue expectations at all. Against an expected value of $2.68 billion USD, Electronic Arts was only able to put up around $2.577 billion for the quarter. As a result, in its guidance, EA stated that its estimated net bookings forecast for its 2022 fiscal year is expected to be $7.525 billion, down from its estimated $7.625 billion reported in its Q2 2022 earnings results. Despite this, some metric forecasts are up. Electronic Arts is currently expecting a net income on the fiscal year to be around $694 million (compared to $583 million in Q2 2022) and diluted earnings-per-share (EPS) to be around $2.43 per share (compared to $2.03).
There is likely more to be learned about Electronic Arts’ Q3 2022 earnings results, as well as its forecast and future business plans as the company readies for its earnings conference call today. Stay tuned for the latest as we report on that and further tech company earnings results right here at Shacknews.