Electronic Arts Inc.’s upcoming earnings will show how spending on video games has held up in the current economic climate.
The Tuesday afternoon report kicks off earnings season for the major publishers, with reports from Take-Two Interactive Software Inc. TTWO and Activision Blizzard Inc. ATVI to come next week. But EA EA might be a bit of a special case, since consumers may be less inclined to cut back their spending on the company’s trademark sports titles.What to expect Earnings: Analysts tracked by FactSet expect EA to post $3.05 a share in adjusted earnings for the fiscal third quarter, down from $3.
Stock movement: EA shares have risen following each of the company’s last five earnings reports. The stock has declined 2% over the past 12 months, though it’s risen more than 5% to start 2023. “We think EA’s sports games, in particular, generate sticky bookings,” he wrote. “As gamers narrow their range of title purchases owing to budgetary pressure, we think they will stick with core, multi-player games like ‘Madden’ and ‘FIFA.’ Meanwhile, spending in these games, with passionate fans, may have outperformed expectations.”
Source: News Formal (newsformal.com)
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