EA shares drop 7% after company lowers guidance due to weakness in soccer, other games
Summary
Visitors play the EA Sports FC 25 game in front of a placard with Englands midfielder Jude Bellingham at the Electronic Arts booth during the media day at the Gamescom video games trade fair in Cologne, western Germany on Aug. 21, 2024. Electronic Arts slashed its full-year bookings guidance on Wednesday, blaming the shortfall on underperforming games, notably its soccer franchise, EA Sports FC. "During Q3, we continued to deliver high-quality games and experiences across our portfolio," EA CEO Andrew Wilson said in the statement. "However, Dragon Age and EA SPORTS FC 25 underperformed our net bookings expectations." EA said that while its soccer franchise, which it calls Global Football, had seen two years of double-digit growth in net booking, it started to see a slowdown during the December quarter.