Actionable news
0
All posts from Actionable news
Actionable news in EA: Electronic Arts Inc.,

Michael Pachter On Electronic Arts Earnings, 'Mirror's Edge' And Poor Guidance

Electronic Arts Inc. EA 0.2% released its Q1 results after market close on Tuesday. EPS came in above Wall Street consensus expectations, sending shares up 2.37 percent. Electronic Arts reported EPS of $0.07 and revenues of $682 million. Analyst consensus had an EPS estimate of $(0.02) and revenues of $651.29 million.

Benzinga contacted Michael Pachter, Wedbush expert on gaming stocks, to receive a more specific analysis on some of Electronic Art's key initiatives such as "Mirror's Edge."

When asked about Electronic Art’s relatively criticized "Mirror's Edge" game, Pachter said "the results were fine.” Although Electronic Arts didn’t provide any exact figures on the game, revenue numbers suggest it sold between 1.7-2.0 million units, according to the analyst.

Pachter was a bit disappointed with Q2 guidance.

"I’m sure they'll talk about Brexit and phasing of marketing spending as reasons for their conservatism,” said the analyst.

At time of writing, Electronic Arts traded at $76, down 1 percent in Tuesday's aftermarket.

DateFirmActionFromTo
Apr 2016BMO CapitalInitiates Coverage onMarket Perform
Mar 2016Hilliard LyonsDowngradesBuyLong-term Buy
Feb 2016Hilliard LyonsUpgradesNeutralBuy

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.