Shulou(Shulou.com)11/24 Report--

According to the news in the morning of February 1, Beijing time, EA today announced the company's financial results for the third quarter of fiscal year 2023. According to the report, EA's total net revenue in the third quarter was $1.881 billion, compared with $1.789 billion in the same period last year. Excluding general accounting principles, EA's third-quarter net bookings (net bookings) were $2.342 billion, compared with $2.577 billion in the same period a year earlier. Net profit was $204 million, up 209% from $66 million a year earlier.

EA's third-quarter net bookings and earnings per share fell short of Wall Street analysts' expectations, and its outlook for the first quarter and full year of fiscal 2023 fell below expectations, sending its shares down more than 10 per cent in after-hours trading.

Main results: net profit for the quarter ended December 31 was $204 million, up 209% from $66 million a year earlier, and diluted earnings per share were 73 cents per share, compared with 23 cents a year earlier. The performance fell short of analysts' expectations. On average, 26 analysts had expected EA to earn $3.05 a share in the third quarter, according to data provided by Yahoo Finance.

EA's total net revenue in the third quarter was $1.881 billion, compared with $1.789 billion a year earlier. Of this total, net revenue from full game was $622 million, compared with $616 million a year earlier, and net revenue from streaming services and other businesses was $1.259 billion, compared with $1.173 billion a year earlier.

By platform, EA's third-quarter net revenue from console platforms was $1.152 billion, up 1 per cent from $1.138 billion a year earlier; net revenue from PC and other platforms was $435 million, up 16 per cent from $374 million a year earlier; and net revenue from mobile platforms was $294 million, up 6 per cent from $277 million a year earlier.

Without GAAP, EA's third-quarter net bookings (net bookings) were $2.342 billion, compared with $2.577 billion a year earlier, falling short of analysts' expectations. On average, 22 analysts expected EA's net bookings to reach $2.51 billion in the third quarter, according to data provided by Yahoo Finance. In the past 12 months, EA's net bookings were $7.146 billion, down 1 per cent from a year earlier.

EA's third-quarter revenue cost was $568 million, compared with $631 million a year earlier. EA's third-quarter gross profit was $1.313 billion, compared with $1.158 billion a year earlier.

EA's total operating expenses in the third quarter were $1.024 billion, compared with $1.056 billion a year earlier. Of this total, R & D expenditure was $556 million, compared to $539 million in the same period last year; marketing and sales expenses were $256 million, compared to $293 million in the same period last year; general and administrative expenses were $162 million, compared to $163 million in the same period last year; and amortization of intangible assets was $50 million, compared with $6100 in the same period a year earlier.

EA's third-quarter operating profit was $289 million, compared with $102 million a year earlier.

EA's net cash from business operations in the third quarter was $1.123 billion. Over the past 12 months, EA has had net cash of $1.377 billion from business operations.

In the third quarter, EA bought back 2.6 million shares, with a total of $325 million; in the past 12 months, EA bought a total of 1020 million shares, with a total of $1.295 billion.

In the third quarter, EA paid shareholders a cash dividend of 19 cents a share, totaling $52 million.

EA announced that it will pay a cash dividend of $0.19 per share to common shareholders, which will be paid on March 22, 2023 to shareholders of record as of the end of business hours on March 1, 2023.

Performance outlook: outlook for the fourth quarter of fiscal year 2023:

EA expects net revenue for the fourth quarter of fiscal 2023 to be between $1.7 billion and $1.8 billion; net profit is expected to be between $14 million and $55 million; diluted earnings per share are expected to be between $14 million and $0.20, below analysts' expectations; net bookings are expected to reach between $1.675 billion and $1.775 billion, below analysts' expectations Revenue costs are expected to be between $395 million and $415 million; operating expenses are expected to be between $1.075 billion and $1085 million; and pre-tax profits excluding income tax reserves are expected to be between $235 million and $304 million.

On average, 22 analysts expected EA's fourth-quarter net bookings to reach $2.22 billion, while 24 analysts expected EA's fourth-quarter earnings per share to reach $2.22, according to data provided by Yahoo Finance.

Full-year performance outlook for fiscal year 2023:

EA forecasts that net revenue for fiscal year 2023 is expected to be between $7.252 billion and $7.352 billion; net profit is expected to be between $828 million and $869 million; diluted earnings per share are expected to be between $2.79 and $3.11, below analysts' expectations; operating cash flow is expected to be between $1.4 billion and $1.45 billion Net bookings are expected to be between $7.07 billion and $7.17 billion, below analysts' expectations; revenue costs are expected to be between $1.739 billion and $1.759 billion; operating expenses are expected to be between $4.126 billion and $4.136 billion; pre-tax profits excluding income tax reserves are expected to be between $828m and $869m.

On average, 27 analysts expected EA's net bookings to reach $7.76 billion in fiscal 2023, while 27 analysts expected EA to earn $7.16 a share in fiscal 2023, according to data provided by Yahoo Finance.

Share price movements: on the day, EA shares fell 31 cents, or 0.24 percent, to $128.68 in regular Nasdaq trading. EA shares fell another $13.28, or 10.32 per cent, to $115.40 in after-hours trading as of 06:11 EDT on Tuesday (07:11 Beijing time on Wednesday). Over the past 52 weeks, EA has priced as high as $142.79 and as low as $109.24.

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