Earnings Watch: Tax gain bolsters Electronic Arts profits, shares rise [MarketWatch]
Electronic Arts Inc. (EA)
Last electronic arts inc. earnings: 1/30 04:01 pm
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Source: MarketWatch
Tax gain bolsters Electronic Arts profits, shares rise Electronic Arts Inc. shares climbed more than 1% in the extended session Tuesday, after the videogame giant reported higher-than-consensus figures for net bookings. EA EA, -2.39% reported fiscal second-quarter net income of $854 million, or $2.89 a share, versus $255 million, which amounts to 83 cents a share, in the year-ago quarter. Revenue rose to $1.35 billion, versus $1.29 billion in the year-ago quarter. During the quarter, EA recognized an income-tax benefit of $1.71 billion, or $5.74 a share, during fiscal 2020. In the fiscal second quarter, EA recognized $625 million, or $2.11 a share. The tax benefit occurred because the company transferred some of its intellectual property to its Swiss subsidiary and that country changed its tax rates. There was also a Ninth Circuit Court of Appeals decision that affected how EA accounts for stock-based compensation expenses. Fiscal second-quarter net bookings rose to $1.28 billion fr
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News
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- Electronic Arts Inc. (NASDAQ: EA) had its "hold" rating re-affirmed by analysts at Stifel Nicolaus. They now have a $167.00 price target on the stock.MarketBeat
- CNET's 2024 Game of the Year Awards [CNET News]CNET News
- The five-year decline in earnings might be taking its toll on Electronic Arts (NASDAQ:EA) shareholders as stock falls 5.6% over the past week [Yahoo! Finance]Yahoo! Finance
EA
Earnings
- 10/29/24 - Miss
EA
Sec Filings
- 12/20/24 - Form 4
- 12/17/24 - Form 4
- 12/16/24 - Form 144
- EA's page on the SEC website