Electronic Arts Inc.(EA)- NASDAQ
  • Thu, Sep. 15, 6:36 PM
    • Videogame sales ticked up Y/Y, rising 1% as key new game releases reversed a trend of declines, according to NPD Group.
    • Spending had been falling against tough comparisons with last summer's releases. But a strong release schedule, including a new year's Madden NFL and a high-profile release in No Man's Sky, rescued August from summer doldrums.
    • Overall sales rose to $573.4M as a pickup in software slightly more than offset continuing declines in hardware and accessories.
    • Hardware sales continued a downward trend, coming on the cusp of a console refresh cycle at Sony (NYSE:SNE) and Microsoft (NASDAQ:MSFT). Those revenues fell 6% Y/Y to $178.1M.
    • "The unit growth in sales for the Xbox One and the 3DS was not enough to offset the decline in spending on the PS4, Wii U and older consoles," says NPD's Sam Naji. "The decline in unit spending was also compounded by the 7 percent decline in the ARP for consoles and a 22 percent decline in the ARP for portables.”
    • Videogame software spending, including digital estimates, grew 8% to $273.7M. And PC game sofware rose 18% to $14.2M. Meanwhile, accessory spending dropped 5% to $107.4M.
    • In individual games (ranked by dollar sales), new releases took the spotlight: Madden NFL 17 (NASDAQ:EA) topped the chart, followed by No Man's Sky (SNE) and Deux Ex: Mankind Divided (Square Enix). Grand Theft Auto V, a cash cow at Take-Two (NASDAQ:TTWO), was No. 4, followed by Overwatch (NASDAQ:ATVI).
    | Thu, Sep. 15, 6:36 PM | 10 Comments
  • Wed, Sep. 7, 3:52 PM
    • More from Sony's (NYSE:SNE) PlayStation event, focused on the visual upgrades in the new PS4 Pro: The high-end model will be available Nov. 10 at a price of $399.
    • The slimmer, now baseline PS4 will be available next week at $299.
    • While the Pro model will support 4K graphics and High Dynamic Range, the company revealed that a firmware upgrade will make all currently installed PS4 models HDR capable.
    • Key representatives from top gaming firms were represented: Activision Blizzard (NASDAQ:ATVI) CTO Andy Hendrickson spoke for Call of Duty, saying that the franchise's upcoming Infinite Warfare and Modern Warfare: Remastered would support PS4 Pro "from day one," as will the previously released Call of Duty: Black Ops 3 via an online upgrade.
    • Meanwhile, Aaryn Flynn of Electronic Arts (NASDAQ:EA) noted the company's FIFA soccer franchise and upcoming Mass Effect: Andromeda would support the new graphics.
    • Sony added that a Netflix upgrade would provide 600 hours of 4K content by the end of the year, including Narcos and Luke Cage. And YouTube is developing an app for the Pro model that will support 4K content.
    | Wed, Sep. 7, 3:52 PM | 17 Comments
  • Tue, Aug. 2, 4:36 PM
    • Electronic Arts (NASDAQ:EA) is off 1.7% following fiscal Q1 earnings, on its last quarter reporting key metrics on a non-GAAP basis (with adjustments for deferred revenue).
    • The company posted a surprise profit on a non-GAAP basis, reporting EPS of $0.07. GAAP EPS came to $1.40 vs. $1.31 expected.
    • Non-GAAP net revenue of $682M fell $11M short of consensus. On a GAAP basis, total net revenues of $1.27B beat an expected $1.2B.
    • About 54% of GAAP net revenue was digital. Change in deferred net revenue was -$589M (-$121M of that digital).
    • During the quarter, the Battlefield franchise had more than 11.5M unique players, and Star Wars: Battlefront had more than 6.6M uniques. Star Wars: Galaxy of Heroes players averaged almost 2.5 hours of gameplay each day, and the company said its EA Access subscriber base more than doubled Y/Y.
    • For 2017, it's guiding to (GAAP) net revenue of $4.75B (may not be comparable to expectations for $4.94B) and EPS of about $2.56 (above consensus for $2.47), along with changed in deferred net revenue of $150M and operating cash flow of about $1.3B.
    • Conference call to come at 5 p.m. ET.
    • Press Release
    | Tue, Aug. 2, 4:36 PM | 7 Comments
  • Tue, Aug. 2, 4:04 PM
    • Electronic Arts (NASDAQ:EA): FQ1 EPS of $0.07 beats by $0.09.
    • Revenue of $682M (-1.6% Y/Y) beats by $31.34M.
    • Shares +2.3%.
    • Press Release
    | Tue, Aug. 2, 4:04 PM | 1 Comment
  • Mon, Aug. 1, 5:35 PM
  • Wed, Jul. 20, 8:28 AM
    • Electronic Arts (NASDAQ:EA) will stop reporting many of the adjusted financial measures it has used for years, addressing regulators' stepped-up criticism of how companies apply customized metrics in earnings.
    • In a conference call with analysts Tuesday, the company said results for its most recently ended quarter, due Aug. 2, will be the last to include revenue, gross margin and per-share earnings on a non-GAAP basis.
    | Wed, Jul. 20, 8:28 AM | 4 Comments
  • Fri, Jul. 15, 12:30 PM
  • Tue, Jun. 14, 4:37 AM
    • The Electronic Entertainment Expo, or E3, is a little less deafening this year with the absence of Activision (NASDAQ:ATVI) and Electronic Arts (NASDAQ:EA), while Nintendo (OTCPK:NTDOY) has already told fans not to expect to see its next-generation game console, code-named NX.
    • Still, Sony and Microsoft got attendees buzzing on Monday with plenty of game announcements, and the unveiling of PlayStation VR (which will roll out Oct. 13) and Xbox One S.
    | Tue, Jun. 14, 4:37 AM | 5 Comments
  • Mon, Jun. 13, 5:19 AM
    • Eager to grow in competitive video gaming, Electronic Arts (NASDAQ:EA) has announced plans to substantially expand competitions for its own titles, starting with Madden.
    • The effort puts it on par with some of the bigger events in professional video gaming, also known as e-sports, and will award $1M in cash prizes over the course of the series.
    | Mon, Jun. 13, 5:19 AM | 2 Comments
  • Wed, May 18, 7:35 PM
    • Electronic Arts' (EA -0.9%) investor day earned it a price target boost from Oppenheimer, as it previewed a more interesting game slate and largely inspired confidence in its plans for $1B in incremental revenue.
    • Analyst Andrew Uerkwitz raised his target to $88, from $78. With today's lower price, Uerkwitz's new target implies 18% upside in the stock; he rates it Outperform.
    • “We came away more confident in EA’s growth strategy and ability to engage existing and potential customers with new tools,” Uerkwitz writes. “We believe secular tailwinds such as the move to digital and mobile will support multiyear margin expansion and profit growth for the company.”
    • Now read EA Is A Long-Term Stock To Bet On »
    | Wed, May 18, 7:35 PM
  • Mon, May 16, 12:10 PM
    • Leon Cooperman's Omega Advisors sold its roughly 3M share stake in Citigroup (NYSE:C) in Q1, which had accounted for about 3.4% of the fund's holdings.
    • He took new stakes in PayPal Holdings (NASDAQ:PYPL), UnitedHealth (NYSE:UNH), Coach (NYSE:COH), Lowe's (NYSE:LOW), Autozone (NYSE:AZO), and Electronic Arts (NASDAQ:EA).
    • Cooperman also cut his FANG exposure, selling more than 50% of his Facebook (NASDAQ:FB), and about one-third of his Google (GOOG, GOOGL).
    • While the 13F also shows a new 227K share stake in Apple (representing 0.7% of the total portfolio), CNBC reports that holding has since been sold.
    | Mon, May 16, 12:10 PM | 29 Comments
  • Wed, May 11, 2:17 PM
    • Electronic Arts (NASDAQ:EA) is soaring today, up 12.4% though today's peak so far is just short of a 52-week high, as analyst reaction to its fiscal Q4 earnings beat was uniformly positive.
    • Credit Suisse reiterated a Buy and $90 price target, implying 24% upside from today's raised price. Meanwhile, Benchmark raised its price target to $82.64 from $81.48, and Baird reiterated its Outperform rating and $80 price target.
    • UBS maintained its Buy rating and $82 price target, noting "the strength of EA's console revenues (including full-game downloads), mobile growth & extra content suggests the company continues to benefit from both cyclical (next-gen consoles) & secular (mobile & digital) trends in gaming." The firm sees EA's May 17 analyst day as a likely positive catalyst.
    • Oppenheimer reiterated its Outperform rating and $78 price target noting the company's game slate ahead: "Battlefield 1 reveal trailer (published last Friday) garnered highly favorable online reviews. We believe momentum is also strong behind EA's other new titles for FY17, including Sports titles, Titanfall 2, and Mass Effect Andromeda."
    • Now read Electronic Arts: Strong Lineup Bodes Well For FY'17 »
    | Wed, May 11, 2:17 PM | 11 Comments
  • Wed, May 11, 9:12 AM
    | Wed, May 11, 9:12 AM
  • Tue, May 10, 8:33 PM
    • Electronic Arts (NASDAQ:EA) gained 7.7% after hours, quoting at its highest point since January's end, after it wrapped up its fiscal year with a Q4 beat on top and bottom lines.
    • Revenue breakout: Product, $695M (up 3.9%); Service and other, $613M (up 18.8%).
    • In particular, FIFA, Madden NFL and Hockey Ultimate Team live services kept performing well in Q4 with collective net revenue up 26% Y/Y (up 33% in constant currency). For the fiscal year, digital revenue was $2.531B, or 55% of total.
    • EA says it's the No. 1 publisher on PS4 and Xbox One, and if those console makers can sell another 25M units by the end of the year it would mean 80M next-gen customers for EA's heavy slate ahead.
    • During its earnings call, the company confirmed it's planning the sequel to 14M-seller Star Wars: Battlefront for 2017, and that an action game based on the franchise will be made by Visceral and arrive in 2018.
    • For Q1, it guided to non-GAAP net revenue of about $640M (light of an expected $744M), and EPS of -$0.05 (below consensus for profit of $0.18/share). For fiscal 2017, it forecasts non-GAAP net revenue of $4.9B (vs. $4.84B expected) and EPS of $3.50 (above consensus for $3.46).
    • Press Release
    | Tue, May 10, 8:33 PM
  • Tue, May 10, 5:37 PM
    | Tue, May 10, 5:37 PM
  • Tue, May 10, 4:03 PM
    • Electronic Arts (NASDAQ:EA): FQ4 EPS of $0.50 beats by $0.08.
    • Revenue of $924M (+3.1% Y/Y) beats by $35.22M.
    • Shares +5.6%.
    • Press Release
    | Tue, May 10, 4:03 PM | 2 Comments