Why Electronic Arts Shares Dropped 7% After-Hours Thursday

Electronic Arts Inc (NASDAQ: EA) shares tanked in the after-hours session Thursday as the company missed analyst estimates for the second quarter of the fiscal year 2021 even as it beat management guidance. EA’s decision to start paying quarterly dividend amid weak earnings also didn’t sit well with the market, Barron’s noted earlier.What Happened: In the first five minutes of the after-hour session, the stock price shed 9% and dropped to $118 a share. EA quarterly net revenues dropped 15% year-over-year at $1.15 billion while the $0.63 diluted earnings per share for the quarter was 78% lower YoY.Revenues from …read more

Source:: Yahoo Finance


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