Published , by Donovan Erskine
Published , by Donovan Erskine
Electronic Arts' (EA) has released its Q4 2022 earnings report, where the company recapped its performance over the final financial period of its fiscal year. It also provided guidance for the upcoming quarter as well as the next fiscal year. In regards to the latter, EA’s 2023 guidance has come in lower than expectations.
Electronic Arts (EA) shared its Q4 2022 earnings report earlier today, breaking down the company’s business performance over the past few months. In the report the company provides guidance for the upcoming fiscal year. EA is currently predicting somewhere between $7.6 and $7.8 billion in total revenue for the fiscal year 2023, which is just under the expectation of $8 billion.
EA is also looking at a revenue cost of $2.2 to $2.6 billion over the upcoming fiscal year. As for Q1 2023, EA’s guidance is predicting total net revenue to be in the neighborhood of $1.6 and $1.7 billion. Providing guidance is a valuable aspect of a company’s earnings report, as it allows the shareholders to make better informed decisions. It also allows the public to see just how the company assesses its current business and the factors surrounding it.
Following the release of EA’s Q4 2022 earnings report and the information found therein, the company stock was a bit up and down, but not showing any strong movement in either direction. It did surpass the daily high of $114.50 in after-hours trading. We await the company’s earnings call, which will likely feature more information that could influence the stock.
Electronic Arts' (EA) guidance for the fiscal year 2023 may be lower than expected, but it’ll be a while before we see how it actually performs against that guidance. In the meantime, you can rely on Shacknews for timely business news in the world of video games.