Andrew Wilson Electronic Arts dips on after revenue in line with expectations
7:49 PM ET Tue, 31 Oct 2017 | 01:11
Electronic Arts reported quarterly revenue that met analysts' expectations on Tuesday.
Here's how the company did compared with what Wall Street expected:
Revenue: $1.18 billion vs. $1.18 billion expected according to Thomson Reuters consensus estimates.
For the full year, EA said it expects net bookings of $5.15 billion, as compared with Wall Street estimates of $5.20 billion.
Shares slipped 3 percent in after-hours trading.
Net bookings came in at $1.18 billion, up from $1.10 billion a year ago.
Analysts expected a strong quarter with sustained momentum into fiscal year 2019, as EA expands into live and mobile game offerings.
CFO Blake Jorgensen said the company saw a marked shift to digital in the company's sports titles.
"Our sports titles have once again shown their value in delivering a stable and dependable performance," Jorgensen said in a statement.
As one of the most established names in the gaming industry, EA stands poised to monopolize the growth in the industry if it can successfully move into new formats.
As of its Tuesday close, the stock had gained more than 50 percent on the year.
Analysts looked to the release of a second "Star Wars" action-adventure game, "Star Wars: Battlefront II," to drive growth for fiscal year 2018.
Earlier this month, EA announced it would delay a separate Star Wars title because it would shutter the studio producing the game.
This is breaking news. Please check back for updates.
Correction: This story has been updated to reflect that EA delayed the release of a separate "Star Wars" game. An earlier version of this story misstated which title would be delayed.