Why Electronic Arts Shares Are Rising Today

Electronic Arts Inc EA shares are trading higher Wednesday after the company announced preliminary financial results and issued guidance.

Electronic Arts reported preliminary fourth-quarter revenue of $1.825 billion, which is up from $1.35 billion year-over-year. The company reported preliminary earnings of 80 cents per share, which is up from 26 cents per share year-over-year. 

EA said net bookings for fiscal 2022 totaled $7.52 billion, up 21% year-over-year. The EA player network grew 16% year-over-year to more than 580 million unique active accounts.

Net cash provided by operating activities totaled $444 million in the fourth quarter and $1.899 billion for the fiscal year.

EA declared a quarterly cash dividend of 19 cents per share, representing a 12% increase from the prior quarter.

Full-year 2023 revenue is expected to be between $7.6 billion and $7.8 billion. Full-year 2023 earnings are expected to be in a range of $2.79 to $2.87 per share. The company expects net bookings of $7.9 billion to $8.1 billion.

See Also: What's Going On With Roblox Shares Today?

EA 52-Week Range: $109.24 - $148.93

The stock was up 10.5% at $123.35 at time of publication.

Photo: Paul Downey from Flickr.