Electronic Arts Inc. (NASDAQ:EA) is included among the Billionaire George Soros Stock Portfolio: 10 Best Stocks to Buy.
On May 28, Argus downgraded Electronic Arts Inc. (NASDAQ:EA) to Hold from Buy. Earlier in the month, on May 7, Citi raised its price recommendation on EA to $204 from $202. It reiterated a Neutral rating on the shares.
Also on May 5, The Wall Street Journal reported that Electronic Arts posted higher profit and revenue for its latest quarter as net bookings increased. The video game publisher reported fiscal fourth-quarter profit of $461 million, or $1.81 per share, compared with $254 million, or $0.98 per share, in the same period a year earlier. Revenue rose to $2.12 billion from $1.9 billion. Net bookings, a metric that combines total net revenue and changes in deferred net revenue from online-enabled games, increased to $1.86 billion from $1.8 billion.
The company said Apex Legends was a key contributor during the quarter. It delivered its strongest net bookings performance of the fiscal year as engagement and monetization continued to improve.
Chief Executive Andrew Wilson said the quarter capped a record year for EA, supported by the launch of its Battlefield franchise. The report also noted that EA is preparing to go private. In September, the company announced a $55 billion deal with a group of investors that includes Saudi Arabia’s Public Investment Fund, private equity firm Silver Lake, and Affinity Partners, the investment firm founded by Jared Kushner.
Electronic Arts Inc. (NASDAQ:EA) is a digital interactive entertainment company. The company develops and delivers games, content, and online services for internet-connected consoles, mobile devices, and personal computers.
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