FIFA & Madden drive a strong Q2 for EA ahead of Battlefield V
Electronic Arts published its latest earnings report today, and while both revenues and profits were up year-over-year, lower-than-expected forecasts for next quarter -- the big holiday quarter -- seem to have driven EA's stock price down.
EA reportedly earned $255 million in profits on $1.28 billion in revenues generated during its second quarter, which encompasses the three months prior to September 30th.
That seems quite a bit better than the same period last year, when EA lost $22 million on $959 million in revenues.
The company chalks its recent good fortunes up to strong revenues generated by its EA Sports games, most notably Madden 19 and FIFA 19 (pictured).
Looking ahead, EA predicts it will bring in ~$1.73 billion in revenues next quarter (which will see it launching Battlefield V), which apparently is a bit less than the $2 billion expected by investors. All told, EA expects to earn nearly a billion dollars in profit (~$962 million) on ~$5.15 billion in revenues generated during its current fiscal year, which ends March 31st.