Stock Monitor: Changyou.com Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 08, 2018 / Active-Investors.com has just released a free earnings report on Electronic Arts Inc. (NASDAQ: EA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=EA. The Company reported its third quarter fiscal year 2018 operating and financial results on January 30, 2018. The video game publisher provided guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Changyou.com Limited (NASDAQ: CYOU), which also belongs to the Technology sector as the Company Electronic Arts. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Electronic Arts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=EA
Earnings Highlights and Summary
For the third quarter ended December 31, 2017, Electronic Arts reported total net revenues of $1.16 billion compared to $1.15 billion in Q3 FY17. The Company's digital net revenue grew 13.9% to $780 million in the reported quarter compared to $685 million in the year earlier same quarter. Electronic Arts' total revenue numbers exceeded analysts' estimates of $1.14 billion.
During Q3 FY18, Electronic Arts' operating expenses were $680 million compared to $637 million in Q3 FY17, with the y-o-y increase primarily attributed to a continued investment in existing and new genres and in live services.
Electronic Arts reported a GAAP net loss of $186 million, or $0.60 per share, in Q3 FY18 compared to a GAAP net loss of $1 million, or $0.00 per share, in Q3 FY17. During the reported quarter, the Company recognized $176 million of incremental income tax expenses, or approximately $0.57 per share, due to the application of the Tax Cuts and Jobs Act 2017 (TCJA), enacted on December 22, 2017.
On an adjusted basis, Corning reported core earnings of $485 million, or $0.49 per share, versus $534 million, or $0.50 per share, in the prior year's comparable quarter. The Company's adjusted earnings beat Wall Street's estimates of $0.47 per share.
Operating Results
For Q3 FY18, Electronic Arts' net bookings totaled $1.97 billion compared to $2.07 billion in Q3 FY17. The Company's Digital net bookings for the trailing twelve months was a record $3.38 billion, up 18% on a y-o-y basis, and representing 67% of total net bookings for the same period.
Electronic Arts' FIFA community grew to nearly 42 million players, on console alone, during the calendar year 2017. The Company's FIFA Mobile added 26 million players to its total player base in the reported quarter.
Electronic Arts' FIFA Ultimate Team™ player base grew 12% on a y-o-y basis, from launch to the end of Q3 FY18. The Company's The Sims™ 4 player base grew more than 35% on a y-o-y basis and delivered the highest-performing expansion pack to date during the reported quarter.
Cash Matters
For Q3 FY18, Electronic Arts' net cash provided by operating activities was $849 million. The Company's net cash provided by operating activities for the trailing twelve months was $1.51 billion.
During Q3 FY18, Electronic Arts repurchased 1.4 million shares for $150 million. For the trailing twelve months, the Company repurchased 5.6 million shares for $578 million.
Outlook
For the fiscal year 2018 ending March 31, 2018, Electronic Arts is forecasting net revenue to be approximately $5.100 billion and net bookings are expected to be approximately $5.15 billion. For FY18, Electronic Arts is projecting net income to be approximately $1.015 billion, and diluted earnings per share to be approximately $3.25, including the net impact of approximately ($0.48) per share due to the application of the TCJA. The Company is anticipating operating cash flow to be approximately $1.60 billion for FY18.
Stock Performance Snapshot
February 07, 2018 - At Wednesday's closing bell, Electronic Arts' stock slightly fell 0.06%, ending the trading session at $123.05.
Volume traded for the day: 3.95 million shares.
Stock performance in the last month - up 8.68%; previous three-month period - up 9.42%; past twelve-month period - up 49.68%; and year-to-date - up 17.12%
After yesterday's close, Electronic Arts' market cap was at $39.10 billion.
Price to Earnings (P/E) ratio was 38.63.
The stock is part of the Technology sector, categorized under the Multimedia & Graphics Software industry.
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