Electronic Arts ( EA Quick Quote EA - Free Report) recently unveiled EA SPORTS Madden NFL 24, featuring enhanced gameplay and heightened realism on PlayStation®5 (PS5), Xbox Series X|S and PC. The game introduces SAPIEN Technology, which improves character models and motion, providing more accurate and lifelike player movements on the football field, in conjunction with the advanced FieldSENSE system. Madden NFL 24 introduces numerous enhancements to core football mechanics, providing an elevated gaming experience. The fan-favorite Superstar Mode and mini-games made a comeback, offering exciting and educational gameplay options. Additionally, the game introduces cross-play support, enabling players to enjoy multiplayer modes and compete with friends across different platforms, ensuring feature parity on PS5, Xbox Series X|S and PC. EA Tiburon, located in Orlando and Madrid, is the development team behind Madden NFL 24. The game is set to release worldwide on Aug 18 and will be available for Xbox Series X|S, PS5, Xbox One, PlayStation 4, PC via EA app for Windows, Steam and Epic Games Store. EA Sports’ Partnership With NIKE to Boost Top Line
EA SPORTS has formed a partnership with
NIKE ( NKE Quick Quote NKE - Free Report) to create immersive experiences and introduce innovative customization options in future EA SPORTS titles. The collaboration aims to unlock new levels of engagement within the EA SPORTS ecosystem. NIKE introduced .Swoosh in November 2022, enabling individuals and brands to generate non-fungible token (NFT) virtual items like shoes and jerseys. These items can be utilized in various digital platforms and offer unique advantages, such as physical products and exclusive events. Through the collaboration with EA SPORTS, these NFT creations can now be integrated into popular game series, such as EA Sports FC, Madden NFL and National Hockey League. Looking further ahead, the ability to win potentially valuable NFTs in game would also help EA SPORTS engage fans and encourage them to spend more in the money-spinning world of Ultimate Team. This game mode already generates substantial revenues for the company and the inclusion of potentially valuable in-game NFT rewards would further enhance its financial success. For fiscal 2024, EA expects revenues in the range of $7.3-$7.7 billion and GAAP EPS of $3.30-$3.81 per share. The Zacks Consensus Estimate for EA’s first-quarter fiscal 2024 earnings is pegged at a profit of $1 per share, indicating year-over-year growth of 212.5%. The Zacks Consensus Estimate for revenues is pegged at $1.59 billion, indicating year-over-year growth of 22.14%. Zacks Rank & Key Picks
Currently, Electronic Arts carries a Zacks Rank #3 (Hold).
Shares of EA have gained 4.1% year to date compared with the Zacks Consumer Discretionary sector’s growth of 9.2% in the same period. Some better-ranked stocks from the broader sector, which investors can consider, are Crocs ( CROX Quick Quote CROX - Free Report) and DraftKings ( DKNG Quick Quote DKNG - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Shares of Crocs have gained 7.5% year to date. The Zacks Consensus Estimate for Crocs’ second-quarter 2023 revenues is pegged at $1.05 billion, indicating year-over-year growth of 8.35%. The consensus mark for earnings is pegged at $2.95 per share, which has decreased by 5 cents over the past 30 days. Shares of DraftKings have rallied 124.4% year to date. The Zacks Consensus Estimate for DraftKings’s second-quarter 2023 revenues is pegged at $714.58 million, indicating year-over-year growth of 53.28%. The consensus mark is pegged at a loss of 29 cents per share.