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Electronic Arts Reports Mixed Q2; Cuts Booking Guidance Amid Stronger Dollar

By Yasin Ebrahim 

Investing.com -- Electronic Arts signaled weaker annual demand Tuesday as the video game maker cut its annual forecasts following mixed second-quarter results amid a strong dollar and a weaker economic backdrop. 

Electronic Arts Inc (NASDAQ:EA) fell more than 2% in afterhours trading following the report.

Electronic Arts announced earnings per share of $1.07 on revenue of $1.75B. Analysts polled by Investing.com anticipated EPS of $1.36 on revenue of $1.81B.

"The U.S. dollar has strengthened since the time of our initial FY23 guidance," the company said, forecasting a $200 million hit to full-year bookings.

Looking ahead to 2023, the company forecasts bookings in the range of $7.65B to $7.85B, down from a prior forecast of $7.9B to $8.1B. Revenue was expected to be approximately $7.55B to $7.75B and EPS in a range of $3.11 to $3.34 per share. That compared with a prior estimate for revenue of $7.6B to $7.8B and EPS of $2.79 to $2.87.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.