Electronics Arts (NASDAQ:EA) is the second-largest gaming company in the Americas. It develops and publishes popular game franchises like Battlefield, Need for Speed, and popular RPG carry overs like Dragon Age and Mass Effect. However, its big money maker is with EA Sports franchises like FIFA and Madden. Shares of EA have dropped marginally in 2021 as of mid-afternoon trading on November 17. The stock is down 3.1% week over week.
The company released its second quarter fiscal 2022 results on November 3. Net bookings increased 27% from the prior year to $7.07 billion.
Meanwhile, total net revenue was reported at $1.82 billion – up from $1.15 billion in the second quarter of fiscal 2021. Net income climbed to $294 million compared to $185 million in the previous year.
Total net revenue for the first six months of fiscal 2022 rose to $6.39 billion over $5.59 billion in the prior year. However, net income and operating cash flow both fell sharply from the first half of fiscal 2021.
EA put together a strong performance over the course of the COVID-19 pandemic. FIFA 2021 powered the company’s performance in the first quarter, and it received a boost from a slew of releases in Q2 FY2022. This quarter spurred the company to increase its outlook for the full year.
Shares of this stock are trading in favourable value territory at the time of this writing. The company boasts an immaculate balance sheet and its on track for strong growth going forward. I’m looking to snatch up EA on the dip right now.
Tech Insider
