Sector • Technology Industry • Software & Programming |
Industry • Software & Programming |
Sector • Technology |
Despite Revenue Increase, Electronic Arts Inc. Reports Fiscal Deficit, with Earnings Plunging per Share
EA announced fourth quarter of 2023 operating surplus of $175 million
Published May 25 2023 / Modified May 25 2023
CSIMarket Team / CSIMarket.com
Income per share also fell from $0.73 to an undisclosed amount.
- Revenue grew moderately by 2.685% to $1.87 billion, but sequentially decreased by -0.372% from $1.88 billion.
- The company logged a net deficit of $-12.000 million for the most recent fiscal period, compared to a bottom line of $225.000 million a year before.
- Operating earnings fell 52.05% to $175 million, significantly decreasing the operating margin to 9.34% from 20% in Q4 2022.
- For the fiscal year 2023, Electronic Arts Inc earned $802 million in earnings and declared revenue of $7.43 billion, with an improved income per share of $2.88 (up from $2.76) and a revenue increase of 6.22% from $6.99 billion the previous year.
- The company is expected to release its next financial results on August 08, 2023.
The financial results show that Electronic Arts Inc experienced a significant decline in net profits, with a deficit in the most recent fiscal period as opposed to a substantial profit in the previous reporting period.
The decrease in operating earnings and margins could also affect the company's ability to allocate resources towards new projects, thereby affecting its future growth.
However, the moderate growth in revenue and the improvement in income per share for the fiscal year are positive indicators for the company's steadiness in the long run.
Going forward, it would be essential for Electronic Arts Inc to identify its growth drivers, streamline costs, and optimize its operations to remain a competitive player in the software and programming industry.
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Other EA's news
Revving Up the Excitement: F1 23 Players Anticipate the 2024 Season with Pre-Order of F1 24
Electronic Arts Thrives with Strong Q3 FY24 Results, Momentum Gains in Stock Performance
The Ultimate Off-Road Experience Awaits as EA SPORTS WRC Launches Worldwide Today
Revolutionizing Football Fandom: Electronic Arts* Strong Q2 Performance with EA SPORTS FC Launch
Electronic Arts Inc. Achieves Remarkable 46.58% Increase in EPS During Q3 2023
Electronic Arts Inc. Records Impressive Profit Growth but Falls Behind Industry in Q2 2024
Deficit Regardless of revenue rise in the most recent fiscal period
Modest earnings per share Rise by 4.9 % at EA all along the second quarter of 2023
declared Top-line was up slightly , all along the fiscal time-frame ending September 30 2022