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Electronic Arts Inc. (NASDAQ:EA) saw its stock tumble over 8% in afterhours trading Wednesday after lowering its net bookings guidance for Q3 and the full fiscal year. The gaming giant cited weaker-than-expected performance from its soccer franchise, EA Sports FC 25, and role-playing game, Dragon Age.
For Q3 ending Dec. 31, EA now expects net bookings of approximately $2.22 billion, down from its previous forecast of $2.4 billion to $2.55 billion. Earnings per diluted share are projected at $1.11, while revenue is anticipated to hit $1.88 billion. This is a downgrade from the prior earnings forecast of $0.85 to $1.02 per share on revenue of $1.88 billion to $2.03 billion.
CEO Andrew Wilson acknowledged EA’s challenges, stating, “During Q3, we continued to deliver high-quality games, but Dragon Age and EA SPORTS FC 25 fell short of our net bookings expectations.”
The weaker Q3 performance has also impacted EA’s full-year outlook. Net bookings are now expected to range between $7 billion and $7.15 billion, down from the earlier guidance of $7.5 billion to $7.8 billion.
Despite the setbacks, Wilson reaffirmed the company’s commitment to delivering engaging gaming experiences. However, the reduced guidance raises concerns about EA’s ability to drive growth amid increased competition in the gaming industry.
Investors reacted sharply to the announcement, with EA shares reflecting the market’s disappointment over the revised projections.
EA remains a significant player in the gaming sector, but challenges with key titles signal the need for stronger performance to regain investor confidence.
