Electronic Arts Inc. | $EA Stock | Shares Spike Up On Impressive Earnings and Revenue Numbers for the Fourth Quarter

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Electronic Arts Inc. (NYSE: EA)

 

 

Electronic Arts Inc. (EA), a video game software company yesterday reported their fourth quarter fiscal year and full year fiscal year 2016 financial results. Electronic arts reported fourth quarter earnings of $0.50 per share which beat analyst expectations of $0.42 per share. Electronic Arts reported fourth quarter revenues increased 3% year over year to $924 million which beat analyst expectations of $889 million.

 

Electronic Arts Inc. CEO and CFO Comments

“FY16 was a phenomenal year for Electronic Arts as we connected hundreds of millions of players to great new games, and helped them connect with each other through rich and dynamic live services,” said Chief Executive Officer Andrew Wilson. “The year ahead is packed with excitement. Fans are thrilled with the intense action and epic scale of Battlefield 1, our EA SPORTS titles will take major leaps in innovation, and we’ll bring new experiences from our most popular brands to more players on more devices.”

“We grew non-GAAP net revenue, profitability and cash flow to record highs,” said Chief Financial Officer Blake Jorgensen. “Leveraging our great portfolio of brands and live services has enabled us to break records across our key financial metrics. We expect to drive strong revenue, earnings and cash flow growth into the future.”  Business Wire

 

EA Technical Analysis

EA Chart

EA opened trading yesterday at $65 which was up from the previous days trading of $64.52. EA closed trading yesterday at $64.54 and spiked up after market to $69.50, equivalent to a 8% increase from the closing price. Taking a look at the daily chart we can see the last time EA traded above this price level was on January 26th when it traded at $70.83.Taking a closer look at the daily chart we can see that EA has been on an overall upswing dating back to February 8th when it traded at its 52 week low price of $53.01. EA has a float of 304.18 million shares and traded 2.25 times the normal daily trading volume on Tuesday. For trading purposes, I would like to see EA open Wednesday trading above $67 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.50 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

 

Company Profile

Electronic Arts Inc. develops, markets, publishes, and distributes game software content and online services for video game consoles, Internet-connected consoles, personal computers, mobile phones, and tablets worldwide. The company operates through EA Studios, EA Mobile, and Maxis divisions. It develops and publishes digital interactive entertainment games primarily under the The Sims, Madden NFL, EA SPORTS FIFA, Battlefield, FIFA Soccer, Need for Speed, Dragon Age, and Plants vs. Zombies brand names. The company also offers casual games, such as cards, puzzles, and word games through pogo.com and on other platforms; and sells digital content. The company was founded in 1982 and is headquartered in Redwood City, California. Yahoo Finance

 

 

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