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EA Drops on Earnings Miss

Electronic Arts (NASDAQ:EA) shares fell Wednesday after fiscal third-quarter results missed expectations for adjusted earnings and net bookings, according to StreetAccount. Fourth-quarter guidance also disappointed, as the company announced a delay of its upcoming Star Wars game to later this calendar year.

Net bookings for the trailing 12 months were $7.146 billion, down 1% year-over-year. Live services and other net bookings for the trailing 12 months were up 4% year-over-year and represent 75% of total net bookings. The EA player network grew to more than 650 million at quarter end.

Net cash provided by operating activities was $1.123 billion for the quarter and $1.377 billion for the trailing 12 months.

EA repurchased 2.6 million shares for $325 million during the quarter, bringing the total for the trailing twelve months to 10.2 million shares for $1.295 billion. EA paid a cash dividend of $0.19 per share during the quarter, for a total of $52 million.

EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on March 22 to shareholders of record as of the close of business on March 1.
Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS FIFA, Battlefield, Apex Legends, The Sims, Madden NFL, Need for Speed, Titanfall, Plants vs. Zombies and F1 .

EA shares lost $15.23, or 11.8%, to $113.44.