October 30, 2018 / 8:04 PM / 21 days ago

EA's holiday-quarter revenue forecast misses estimates

Oct 30 (Reuters) - Electronic Arts Inc forecast third-quarter revenue below Wall Street estimates on Tuesday, as the video-game publisher’s delayed launch of its popular “Battlefield V” game hurt the company in an already crowded holiday-season game slate.

The company forecast third-quarter adjusted revenue of $1.73 billion, below analysts’ average estimate of $2 billion, according to Refinitiv data.

EA and other game publishers, including rivals Activision Blizzard Inc and Take Two Interactive Software Inc , have been challenged by the rise of games from the “battle royale” genre such as “Fortnite”.

Activision and Take-Two have already launched the latest versions of their popular game franchises, such as “Call of Duty: Black Ops 4” and “Red Dead Redemption 2”, making it a competitive holiday season for EA.

EA’s net income was $255 million, or 83 cents per share, in the second quarter ended Sept. 30, compared to a loss of $22 million, or 7 cents per share, a year earlier.

On an adjusted basis, revenue was $1.22 billion, beating estimates of $1.18 billion.

In late August, EA said it would be delaying the launch of its highly anticipated ‘Battlefield V’ game by nearly a month to Nov. 20.

Due to the delay, the game publisher had cut its full-year adjusted revenue forecast to $5.20 billion from $5.55 billion. (Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below