Electronic Arts shares are under massive pressure today, Wednesday. It’s down 11.5 percent on the hour to $113.86, making it by far the biggest loser of the day on the Nasdaq 100. The video game maker has disappointed with its outlook. In addition, the eagerly awaited next Star Wars game is delayed by a few weeks.
One of the biggest blockbusters for Xbox Series X/S and PlayStation 5 will now not be launched in the first quarter of 2023 as previously planned. Star Wars Jedi: Survivor was originally scheduled for release on March 17, 2023. A few weeks before the planned date, Electronic Arts explains that the Respawn development team needs more time to fine-tune the game. In all likelihood, the Star Wars adventure is now scheduled for April 28, 2023. This means that sales will also be postponed to the new 2023/24 financial year.
Electronic Arts announced today, Wednesday, that it has had to downgrade its forecast for the full year. For the current quarter, the company now expects adjusted earnings per share of between $1.20 and $1.40 on sales of between $1.70 billion and $1.80 billion, well below forecasts of $2.22 billion and $2 .24 billion dollars lies. Net bookings are expected to be between $1.68 billion and $1.78 billion. The result would also be below the analyst consensus of $2.22 billion.
Accordingly, Electronic Arts has also revised its forecast for the full year downwards. The company now expects adjusted earnings per share of around $6. Previously, earnings per share were expected to be between $6.95 and $7.25. Analysts had expected $7.16 per share for the full year.
Electronic Arts shares had already slipped below the AKTIONÄR stop before the numbers were released. The position was closed with a gain of 15.0 percent. Wait for now.