Why This Resilient Stock May Be Right For an Investor's Portfolio
Electronic Arts (NASDAQ: EA) reported earnings from the first quarter of its fiscal 2023 last week -- and investors were pleased, bidding the stock higher in the following days. The global video game publisher saw strong growth across its main franchises, continues to return cash to shareholders, and has a great pipeline of games coming in the next few years.
Shares of the stock are now flat on the year, handsomely beating the 10% drawdown in the S&P 500 over the same time period. Does durable compounder Electronic Arts belong in your stock portfolio today?
EA reported its Q1 earnings on Aug. 2. Total bookings (the revenue equivalent for video game companies) were up 22% in the last 12 months to $7.5 billion. Some of this growth is coming from its recent acquisitions of Codemasters and Glu Mobile, but the publisher is also seeing great growth from its established franchises.
Source Fool.com
