'Star Wars' Doesn't Save Electronic Arts From Disappointing Wall Street
The company reported $1.83 in earnings per share.
Star Wars games helped propel Electronic Arts to a strong quarter, but lackluster guidance was sinking the stock in after-hours trading on Thursday.
The video-game giant boasted that in its fiscal third quarter it set a three-year record in subscribers to Star Wars: The Old Republic and, with one quarter left in its fiscal year, it has already sold more than its guidance of 13 million units of Star Wars: Battlefront.
Star Wars: Battlefront is a first-person shooting game launched about five weeks ahead of the opening of the movie, Star Wars: The Force Awakens.
The company also reported strong results for its Madden NFL, FIFA, Need for Speed and Battlefield franchises.
The company reported $1.83 in earnings per share, which was two cents better than expected, and revenue of $1.8 billion was about in line with expectations.
Guidance for the current quarter, though, was 40 cents per share in earnings on $875 million in revenue, while Wall Street was looking for as much as 50 cents a share on revenue of $915.4 million.
Shares of Electronic Arts ended 30 cents higher to $69.79 on Thursday, though they were off more than 8 percent after the closing bell.