EA yesterday had its best day since May 2022
Video game giants Electronic Arts Inc (NASDAQ:EA), Roblox Corp (NYSE:RBLX), and Take-Two Interactive Software, Inc (NASDAQ:TTWO) are filing in and out of the earnings confessional. Let's take a closer look at some of the results and overall market activity below.
Electronic Arts Reveals Buyback Plan
EA was last seen up 0.1% at $130.63 at last glance, after the company missed fiscal third-quarter earnings and revenue expectations on Tuesday and cut its full-year sales outlook. However, Electronic Arts also unveiled a $1 billion share buyback program that helped the stock score a 7.6% gain -- its largest since May 2022. Shares shed 18.4% in the past three months, even though they are now distancing themselves from a Jan. 24, 52-week low of $115.21.
RBLX Pulls Back from Multi-Year Highs
Despite hitting multi-year highs in the previous session, RBLX is down 13.6% to trade at $65.24 at last check. Though the gaming concern saw smaller-than-expected losses per share for the fourth quarter, a revenue miss and dismal annuals bookings forecast are weighing today. RBLX could mark its worst single-day percentage loss since May, but added 115.4% in the last nine months.
TTWO Cools Before Earnings
Take-Two Interactive stock is taking a breather before the company reports fiscal third-quarter results after today's close. Shares were last seen down 0.7% at $183.69, with a long-term floor at $177 and sporting a 32.5% three month-lead. The Grand Theft Auto parent has a solid post-earnings track record, with shares finishing six of the last eight sessions higher. This time, the options pits are pricing in a 10% swing, regardless of direction, which is larger than the 5.5% move TTWO averaged in the last two years.