Publisher Electronic Arts has repositioned itself as one of the top game makers in the world, and it has had another strong quarter to prove it deserves that reputation.
EA reported the results of the first quarter of its fiscal 2016 today, and the company revealed that it generated more than $693 million in revenue. That beat its own guidance of $640 million. In terms of earnings, the company brought in 15 cents per share. It also trounced Wall Street estimates that expected the company to report an EPS closer to 3 cents. This has the company looking to bring in even more total revenue for 2016, especially as it gets ready to unleash a new Star Wars game. And with the global gaming industry across all devices approaching $100 billion in total sales, EA is one of the few companies in the world equipped to capitalize on all sectors of that business.
In a statement, EA chief executive officer Andrew Wilson noted that this is a “great start” to the publisher’s fiscal 2016.
“We have players engaging for longer periods in our live services, ongoing strength across our digital business, and growing anticipation for our upcoming titles,” said Wilson.
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Wilson and chief financial officer Blake Jorgensen both credit EA’s push into digital and mobile for helping it outperform its guidance for the quarter.
Looking ahead to the full fiscal 2016, EA is feeling even better about its potential. Due to the strength of Q1 and the anticipation for the Star Wars: Battlefront shooter, which is due out in November, the company has raised its revenue guidance from $4.4 billion to $4.45 billion. And it is also raising its earning expectations by 10 cents to $2.85 per share.
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