Electronic Arts Inc. (EA) CEO Says Ongoing Digital Transformation To Deliver Earnings Growth
Electronic Arts Inc. (NASDAQ:EA) CEO, Andrew Wilson, said that the company’s ongoing digital transformation would not only deliver earnings growth but also provide consistent cash flow to the company in the coming years. The company’s digital transformation included services such as EA SPORTS Ultimate Team. Wilson also expressed his confidence that the current efforts to discipline its cost would provide the necessary impetus to deliver solid earnings growth.
Electronic Arts Inc. (NASDAQ:EA) CEO said that his company has executed its plans very well with leading intellectual property, continued strength, and fresh mobile hits in its catalog of top services and games. This has laid a solid foundation for an excellent third quarter performance with record-breaking financials.
At the end of the third quarter, the company’s monthly active users for mobile titles averaged over 160 million. The company disclosed that its mobile sports games continued to occupy players. FIFA 15 Ultimate Team and Madden NFL Mobile together averaged 45% more monthly active players during the course of the third quarter.
SimCity Buildit, which was unveiled in December, from the staple of Electronic Arts Inc. (NASDAQ:EA) has attracted 22 million downloads and attained the top five game downloads of iOS in over hundred countries. During the December quarter, the company has bought back 2.5 million shares for $97 million following the $750 million share buyback program launched in May 2014.
The company reported net income of $142 million or 44 cents a share compared to a net loss of $308 million or $1.00 a share in the prior year quarter. On an adjusted basis, net income slipped 2.5% to $388 million from $398 million while earnings slipped 3.2% to $1.22 a share from $1.26 a share in the year-ago quarter.
The company’s non-GAAP revenue slipped 9.2% to $1.43 billion from $1.57 billion in the previous year quarter. The company said that its earnings, as well as, revenue came in above its guidance.
Going forward, Electronic Arts Inc. (NASDAQ:EA) expects non-GAAP net revenue of $1.16 billion and adjusted earnings of about 22 cents a share for the fourth quarter. Similarly, for the fiscal year 2015, the company expects adjusted earnings of $2.35 a share on revenues of $4.25 billion.
Latest posts by Viraj Shah (see all)
- Tesla Motors Inc (NASDAQ:TSLA)’s Elon Musk Is Going After Semi Truck Industry - November 17, 2017 04:37 AM PST
- Tesla Motors Inc (NASDAQ:TSLA) Is Not “Hotbed for Racist Behavior” - November 15, 2017 06:58 AM PST
- Nikola Tesla and Tesla Motors Inc (TSLA) – The Past & Future of the World You Cannot Ignore- Part 1 - May 15, 2017 05:11 AM PST