Published , by Donovan Erskine
Published , by Donovan Erskine
Electronic Art’s (EA) Q4 2024 earnings report brought a lot of information about how the video game company performed over the past few months, but it also included information about its future. EA has announced that it authorized a share buyback to the tune of $5 billion.
EA announced its buyback in the press release for its Q4 2024 earnings. “EA’s FY24 was highlighted by record cash flow and strong earnings growth driven by EA Sports FC and Madden NFL,” said Stuart Canfield, CFO of EA. “With strong conviction in our future, we are announcing an expanded stock repurchase program. We look forward to sharing more about our long-term strategy and financial framework at our Investor Day this fall.”
During the 2024 fiscal year, EA paid out $1.5 billion to shareholders through its repurchasing of shares. Speaking of shares, EA’s were down significantly in value after the release of its latest earnings report.
This information stems from EA’s Q4 2024 earnings report, which showed a narrow miss on revenue. Stick with Shacknews for the latest financial news as it relates to the games industry.