Tomorrow is the day I’ve been looking forward to since the summer. On Thursday, EA will announce its third-quarter financial results for fiscal 2016. This the quarter that will include revenue for Star Wars Battlefront, the first Star Wars game from EA after the deal signed with Disney. Even though I work at the company, I’m not privy to any sales figures. The rumour is Battlefront did sell at least 13 million copies which is great since that was the sales target. It should have been a solid quarter for the company but I’m just lowly employee that doesn’t see all the figures.
As many of you know, I’m holding onto a decent amount of EA shares, not enough to retire but enough to allow me to get extra fries at McDonald’s. Because of all the stupidity with China’s economy (when have those fools done anything right lately?) and the price of oil, EA’s stock price is mired at just below $70. My thought during the summer was that this quarter will push EA’s stock up to $80 but that seems unlikely now. The more likely scenario is that the stock will be in the $75 range, which unfortunately is where it was during the summer anyways.
I’m leaning towards selling if it gets to $75. The uncertainty of the economy with oil prices and China’s bumbling makes me think I should get out while I still can. On the other hand, if this latest quarter doesn’t excite Wall Street, I may just hold onto my shares. Patience is what got me to this point and it’s paid off so far (theoretically). I could have sold all my shares in the summer of 2012 when the stock was around $12 (which some people did) but I waited because I could.
Is this where I finally cash in all that stock? I’ll know starting 6am PDT on Friday, when Wall Street reacts to the latest earnings report.