Electronic Arts (EA) issues FY 2024 revenue guidance below analyst estimates

The results for the rest of EA's fiscal year might be a bit below what analysts were expecting.

Electronic Arts

Electronic Arts (EA) has shared its earnings report for Q1 2024, showing a miss on revenue and a beat on EPS expectations. In addition to chronicling the company’s financial performance over the past few months, the report also takes a look forward with guidance for the rest of the fiscal year. The guidance provided by Electronic Arts for FY 2024 is below what analysts were anticipating for the quarter.

The new guidance for the remainder of the fiscal year 2024 came from EA’s Q1 2024 earnings report. The company is projecting its revenue for FY 2024 to be between $7.3 billion to $7.7 billion. The lower end of this expectation would put revenue a bit below the analyst expectation of $7.6 billion. "We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition,” said Stuart Canfield, CFO of EA. “Looking ahead, our teams remain focused on delivering long-term growth and profitability.”

EA's stock chart on August 1, 2023.

Electronic Arts (EA) stock took a dive after the release of its latest earnings report. The stock fell as low as $129.60 in after-hours trading after being priced at $136.12 when markets closed. It’s since been pretty volatile, falling and increasing dramatically as the report is spread and examined.

It’ll be interesting to see how EA performs in relation to its expectations over the remainder of the fiscal year. We’ll also be listening closely to EA’s quarterly earnings call for any additional information on this guidance. Stick with Shacknews for all the financial gaming news this week.

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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