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Stockreport

Earnings Watch: Tax gain bolsters Electronic Arts profits, shares rise [MarketWatch]

Electronic Arts Inc. (EA)  More Company Research Source: MarketWatch
Last electronic arts inc. earnings: 1/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ea.com
Tax gain bolsters Electronic Arts profits, shares rise Electronic Arts Inc. shares climbed more than 1% in the extended session Tuesday, after the videogame giant reported higher-than-consensus figures for net bookings. EA EA, -2.39% reported fiscal second-quarter net income of $854 million, or $2.89 a share, versus $255 million, which amounts to 83 cents a share, in the year-ago quarter. Revenue rose to $1.35 billion, versus $1.29 billion in the year-ago quarter. During the quarter, EA recognized an income-tax benefit of $1.71 billion, or $5.74 a share, during fiscal 2020. In the fiscal second quarter, EA recognized $625 million, or $2.11 a share. The tax benefit occurred because the company transferred some of its intellectual property to its Swiss subsidiary and that country changed its tax rates. There was also a Ninth Circuit Court of Appeals decision that affected how EA accounts for stock-based compensation expenses. Fiscal second-quarter net bookings rose to $1.28 billion fr [Read more]
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Stockreport

Earnings Watch: Tax gain bolsters Electronic Arts profits, shares rise [MarketWatch]

Electronic Arts Inc.  (EA) 
More Company Research Source: MarketWatch
Last electronic arts inc. earnings: 1/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ea.com
Tax gain bolsters Electronic Arts profits, shares rise Electronic Arts Inc. shares climbed more than 1% in the extended session Tuesday, after the videogame giant reported higher-than-consensus figures for net bookings. EA EA, -2.39% reported fiscal second-quarter net income of $854 million, or $2.89 a share, versus $255 million, which amounts to 83 cents a share, in the year-ago quarter. Revenue rose to $1.35 billion, versus $1.29 billion in the year-ago quarter. During the quarter, EA recognized an income-tax benefit of $1.71 billion, or $5.74 a share, during fiscal 2020. In the fiscal second quarter, EA recognized $625 million, or $2.11 a share. The tax benefit occurred because the company transferred some of its intellectual property to its Swiss subsidiary and that country changed its tax rates. There was also a Ninth Circuit Court of Appeals decision that affected how EA accounts for stock-based compensation expenses. Fiscal second-quarter net bookings rose to $1.28 billion fr [Read more]
IMPACT SNAPSHOT
EVENT TIME:
EA
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%
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Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
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%
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%
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TICKS
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EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
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