Electronic Arts Inc. reported revenue for the current quarter that missed analysts’ estimates, as the video game publisher continues to feel the effects of an industry-wide downturn and the flop of last fall’s Battlefield game.
The video game publisher, known for its Star Wars and sports games, said adjusted revenue for the three months ending June 30 will be $1.2 billion to $1.25 billion. Analysts had expected $1.45 billion, according to data compiled by Bloomberg.
“With amazing games, built around powerful IP, made by incredibly talented teams, and outstanding engagement in our live services, FY23 is set to be a year of innovation and growth for Electronic Arts,” said CEO Andrew Wilson in a statement.
EA has yet to release any major titles in 2022 and is still dealing with fallout from Battlefield 2042, which was released last November to mediocre reviews and poor fan reception. EA acknowledged earlier this year that the game failed to meet expectations and “did not resonate with fans.”