Electronic Arts shares logged their worst decline since the start of the pandemic Wednesday, as Wall Street reset its expectations for the videogame publisher amid a forecast miss and delays in game releases.
Electronic Arts Inc. shares logged their worst decline since the start of the pandemic Wednesday, as Wall Street reset its expectations for the videogame publisher amid a forecast miss and delays in game releases.
In a Tuesday earnings report, Electronic Arts fell short of Wall Street expectations for its sales and outlook and announced that mobile versions of two popular games would be shelved and the release of “Star Wars Jedi: Survivor” would be delayed. “Hopefully this is just a case of management wanting to set the bar very low after two consecutive guidedowns,” Creutz said.
Calling the miss “rare,” Uerkwitz said the delays and “lackluster” outlook push what he had liked about the stock for the second half of 2023 into the first half of 2024.
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