EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022.
REUTERS/Dado Ruvic/IllustrationAug 1 - Videogame publisher Electronic Arts (EA.O) missed booking estimates for its first quarter on Tuesday, hurt by competition from other franchise-based games and muted spending by gamers.
Its shares fell 4.5% to $130.25 in extended trading as the company posted net bookings of $1.58 billion in the quarter ended June 30, compared with Refinitiv estimates of $1.59 billion.
EA forecast second-quarter net bookings in the range $1.70 billion to $1.80 billion, also below analysts' estimate of $1.81 billion.
Reporting by Yuvraj Malik in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
Persons:
Dado Ruvic, Harry Potter, Yuvraj Malik, Pooja Desai
Organizations:
EA, Eletronic, REUTERS, Electronic Arts, Warner Bros Discovery, Thomson
Locations:
Bengaluru