Electronic Arts Inc (NASDAQ:EA) stock fell 1.31% (As on May 10, 11:48:59 AM UTC-4, Source: Google Finance) though the company beat fourth-quarter booking estimates as the latest installments in its “FIFA” and “Madden NFL” series kept gamer interest strong. Three of EA’s titles including “FIFA 23” and sci-fi horror game “Dead Space” were among the top 10 best-selling games in the first three months of the year, according to data from market research firm Circana. EA posted net bookings of $1.95 billion in the quarter, compared with Refinitiv estimates of $1.76 billion. EA delivered a strong Q4 with record net bookings, up 11 percent year-over-year, demonstrating the strength of the business. The teams continue to create high quality entertainment, fueled by amazing games and deeply engaging live services.

Moreover, Live services and other net bookings for Q4 was $1.622 billion, a record for the quarter, up 9% year-over-year (up 13% in constant currency) and represented 83% of total net bookings. The EA SPORTS FIFA franchise Q4 net bookings grew 31% year-over-year (up 37% in constant currency). In the six months since launch, EA SPORTS FIFA 23 has surpassed life-time sales of EA SPORTS FIFA 22, becoming the most successful launch in franchise history. Apex Legends delivered net bookings growth in Q4 year-over-year at constant currency, driven by a successful Season 16 with peak weekly active users up over 20% from the previous season. Life-to-date, The Sims 4 player network has grown to more than 70 million worldwide.

EA in the first quarter of FY 23 has reported the adjusted loss per share of 4 cents, missing the analysts’ estimates for the adjusted earnings per share of $1.34. The company had reported the adjusted revenue growth of 35.9 percent to $1.87 billion in the first quarter of FY 23, beating the analysts’ estimates for revenue of $1.75 billion. Net cash provided by operating activities was $617 million for the quarter and $1.550 billion for the fiscal year. EA repurchased 2.7 million shares for $325 million during the quarter, bringing the total for the fiscal year to 10.4 million shares for $1.295 billion. EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on June 21, 2023 to shareholders of record as of the close of business on May 31, 2023.

Electronic Arts sees FY 2024 EPS to be in the range of $3.30-$3.81. Electronic Arts sees FY 2024 revenue to be in the range of $7.30B-$7.70B