EA Stock Slides on Weak Q2 Outlook, Battlefield V and Anthem Fuel Full Year Optimism

EA Stock Slides on Weak Q2 Outlook, Battlefield V and Anthem Fuel Full Year Optimism

5 years ago
Anonymous $dicfOfy7s2

https://wccftech.com/ea-q1-2019-earnings-report/

Electronic Arts (NASDAQ:EA) have released their Q1 results for the fiscal year ending March 31, 2019, and the usually-reliable company left investors wanting with a big year-over-year reduction in net income and weak Q2 guidance. In Q1 2019 EA brought in $1.37 billion in revenue and $293 million in net income, well down from the $1.49 billion in revenue and $644 million in net income made in Q1 2018. That said, earnings per share were a solid $0.95, above the $0.73 per share analysts were calling for.

Q1 2019 being down compared to the year previous can mainly be attributed to a buyback of 2.3 million shares at a cost of $300 million and the fact that Q1 2018 included the release of Mass Effect: Andromeda. While Andromeda has since been branded a failure, it did initially sell well, moving around 2.5 million units in its opening quarter. The only major game released by the company in Q1 2019 was the EA Originals title A Way Out, which sold 2.6 million units, but at a lower price point than Mass Effect.