Key Developments: Electronic Arts Inc (EA.OQ)
21.79USD
20 May 2013
$-0.42 (-1.89%)
$22.21
$22.00
$22.33
$21.77
1,193,108
1,314,013
$22.83
$10.77
Latest Key Developments (Source: Significant Developments)
Electronic Arts Inc Issues Q1 2014 Guidance Below Analysts' Estimates; Issues FY 2014 Guidance; EPS Guidance Above Analysts' Estimates
Electronic Arts Inc announced that for first quarter of 2014, it expects Non-GAAP net revenue to be approximately $450 million, GAAP diluted earnings per share to be approximately $0.33 and Non-GAAP diluted loss per share (EPS) to be approximately ($0.62). For fiscal 2014, it expects GAAP net revenue to be approximately $3.50 billion. Non-GAAP net revenue to be approximately $4.00 billion. GAAP diluted loss per share is expected to be approximately ($0.97) and Non-GAAP diluted earnings per share to be approximately $1.20. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $532 million and EPS of $(0.37) for first quarter of 2014 and revenue of $4.08 billion and EPS of $1.10 for fiscal 2014. Full Article
Electronic Arts Inc Cuts Staff At Montreal Studio-Reuters
Reuters reported that Electronic Arts Inc has begun laying off staff at its Montreal game studio in its latest round of jobs cuts. The Company, known for its 'FIFA' and 'Sims' games, declined to divulge the number of jobs affected, or how many employees it has in Montreal, where it has developed console games like 'Army of Two'. Full Article
Electronic Arts Inc Sees Q4 2013 Guidance Slightly Below Or At Low End Of Prior Range
Electronic Arts Inc announced that for the fourth quarter of 2013, it expects that its revenues and earnings per share to be at the low end of, or slightly below previously issued guidance. The Company previously expected GAAP net revenue to be approximately $1.115-$1.215 billion. Non-GAAP net revenue to be approximately $1.025-$1.125 billion. GAAP diluted earnings per share to be approximately $0.92-$1.12. Non-GAAP diluted earnings per share (EPS) to be approximately $0.57-$0.72. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.081 billion and EPS of $0.65 for the fourth quarter of 2013. Full Article
Electronic Arts Inc Announces Change In Executive Leadership
Electronic Arts Inc announced that John Riccitiello will step down as Chief Executive Officer and as a member of the Board of Directors, effective March 30. The Board has appointed Larry Probst as Executive Chairman to ensure a smooth transition and to lead EA`s executive team while the Board conducts a search for a permanent CEO. The Board will consider internal and external candidates with the assistance of a executive search firm. Full Article
Electronic Arts Inc And Zynga Inc Settle Competing Lawsuits-Reuters
Reuters reported that Electronic Arts Inc and Zynga Inc have agreed to settle competing lawsuits over alleged copyright violations and the recruiting of employees. Terms of the settlement were not disclosed, but both companies agreed to permanently drop claims they had raised in litigation begun last August in San Francisco federal court. Full Article
Electronic Arts Inc Issues Q4 2013 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
Electronic Arts Inc announced that for fourth quarter of 2013, it expects GAAP net revenue to be approximately $1.115-$1.215 billion. Non-GAAP net revenue to be approximately $1.025-$1.125 billion. GAAP diluted earnings per share to be approximately $0.92-$1.12. Non-GAAP diluted earnings per share (EPS) to be approximately $0.57-$0.72. For fiscal 2013, it expects GAAP net revenue to be approximately $3.703-$3.803 billion. Non-GAAP net revenue to be approximately $3.778-$3.878 billion. GAAP diluted earnings per share to be approximately $0.18-$0.38. Non-GAAP diluted earnings per share to be approximately $0.86-$1.00. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.220 billion and EPS of $0.71 for fourth quarter of 2013; revenue of $4.071 billion and EPS of $1.01 for fiscal 2013. Full Article
Electronic Arts Inc Lowers FY 2013 Guidance; Issues Q3 2013 Guidance Below Analysts' Estimates
Electronic Arts Inc announced that for fiscal 2013, it expects GAAP net revenue to be approximately $3.85 to $4.00 billion. Non-GAAP net revenue is expected to be approximately $4.05 to $4.20 billion. GAAP basic loss and diluted earnings per share is expected to be approximately ($0.27) to $(0.06). Non-GAAP diluted earnings per share is expected to be approximately $1.00 to $1.15. For third quarter of 2013, it expects GAAP net revenue to be approximately $0.90 to $1.00 billion. Non-GAAP net revenue is expected to be approximately $1.25 to $1.35 billion. GAAP basic loss and diluted earnings per share is expected to be approximately ($0.71) to $(0.57). Non-GAAP diluted earnings per share is expected to be approximately $0.50 to $0.60. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.38 billion and EPS of $0.71 for third quarter of 2013; revenue of $4.12 billion and EPS of $1.05 for fiscal 2013. Full Article
PlayMG Corp Announces Partnership With Electronic Arts Inc To Provide Top Titles Preloaded On MG Dedicated Portable Gaming System For Android Market
PlayMG Corp announced a partnership with EA Mobile(TM), a division of Electronic Arts Inc. to bring $10 worth of top titles preloaded and ready to play on the MG -- a dedicated portable Wi-Fi gaming system for the Android market. Iconic EA franchise titles Need for Speed Hot Pursuit and NBA JAM were chosen for their high-end gaming experience and their broad appeal to the 62 million US kids ages 5 to 18 years-old (according to US Census data) and many of their parents who played these hit games growing up. Full Article
Electronic Arts, Inc. Files Copyright Infringement Lawsuit Against Zynga Inc.
Electronic Arts, Inc. announced that it has filed a lawsuit on behalf of its Maxis Label against Zynga Inc. for infringing EA’s copyrights to its Facebook game, The Sims Social. In the complaint, which was filed in the United States District Court for the Northern District of California on August 3, 2012, EA claims that in Zynga’s recently-released Facebook game The Ville, Zynga has willfully and intentionally copied and misappropriated the original and distinctive expressive elements of The Sims Social in a violation of U.S. copyright laws. Full Article
Electronic Arts, Inc. Issues Q2 2013 Guidance; EPS Guidance Below Analysts' Estimates; Lowers FY 2013 Revenue Guidance; Reaffirms FY 2013 EPS Guidance
Electronic Arts, Inc. announced that for second quarter of 2013, it expects GAAP net revenue to be approximately $650 to $700 million. Non-GAAP net revenue to be approximately $1.05 to $1.10 billion. GAAP diluted loss or earnings per share is expected to be approximately ($1.43) to ($1.36). Non-GAAP diluted earnings per share (EPS) is expected to be approximately $0.07 to $0.12. For fiscal 2013, it expects GAAP net revenue to be approximately $3.90 to $4.05 billion. Non-GAAP net revenue is expected to be approximately $4.10 to $4.25 billion. GAAP basic loss and diluted earnings per share is expected to be approximately ($0.17) to $0.05. Non-GAAP diluted earnings per share is expected to be approximately $1.05 to $1.20. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.07 billion and EPS of $0.14 for second quarter of 2013; revenue of $4.26 billion and EPS of $1.06 for fiscal 2013. Full Article
Electronic Arts expects stronger 2014 slate
SAN FRANCISCO - Electronic Arts Inc forecast fiscal 2014 earnings above Wall Street's expectations as cost cuts take hold and higher-margin digital sales accelerate, lifting the video game publisher's stock 8 percent.
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