{"id":7026,"date":"2023-05-10T22:45:40","date_gmt":"2023-05-11T02:45:40","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/eas-quarterly-bookings-beat-estimates-on-fifa-strength\/"},"modified":"2023-05-10T22:45:41","modified_gmt":"2023-05-11T02:45:41","slug":"eas-quarterly-bookings-beat-estimates-on-fifa-strength","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7026","title":{"rendered":"EA’s quarterly bookings beat estimates on ‘FIFA’ strength"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS\/Dado Ruvic\/Illustration<\/span>
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By Chavi Mehta<\/p>\n

(Reuters) -Videogame publisher Electronic Arts Inc <\/span><\/span> (NASDAQ:) beat fourth-quarter booking estimates on Tuesday as gamers stuck with familiar titles such as “FIFA” and “Madden NFL”, sending the company’s shares up about 3% after the bell.<\/p>\n

Elevated levels of inflation have forced gamers to get picky with the titles they choose to buy, with many returning to their favorite franchises because of tight budgets, a trend that EA and its rivals including Take-Two (NASDAQ:) Interactive Software Inc and Activision Blizzard Inc (NASDAQ:) have turned their focus on.<\/p>\n

“Typically, our brands like FIFA, like Madden, like The Sims have performed very well at these times,” EA CEO Andrew Wilson said.<\/p>\n

The company said “Lord of the Rings: Heroes of Middle Earth” and “Madden 24” will join “Star Wars Jedi: Survivor” in its slate of titles for fiscal 2024.<\/p>\n

“Console and PC dollars are gradually shifting towards the most high profile franchises and EA has some of the most high profile IP there,” Wedbush Securities analyst Nick McKay said.<\/p>\n

EA reported net bookings of $1.95 billion in the fourth quarter, above Refinitiv estimates of $1.76 billion, driven by record live services and strong engagement, particularly from the “FIFA” franchise, Chief Financial Officer Chris Suh said.<\/p>\n

Three of EA’s titles including “FIFA 23” and sci-fi horror game “Dead Space” were among the top 10 best-selling games in the first three months of the year, according to data from market research firm Circana.<\/p>\n

With the decades-long EA-FIFA partnership coming to an end, the company is looking to launch a rebranded version of the game, “EA Sports FC”, this year. The company expects the rebranded game to deliver low single-digit net bookings growth in fiscal 2024.<\/p>\n

EA forecast fiscal 2024 net bookings between $7.30 billion and $7.70 billion, compared with estimates of $7.52 billion. Bookings outlook for the current quarter was in line with expectations.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS\/Dado Ruvic\/Illustration By Chavi Mehta (Reuters) -Videogame publisher Electronic Arts Inc (NASDAQ:) beat fourth-quarter booking estimates on Tuesday as gamers stuck with familiar titles such as “FIFA” and “Madden NFL”, sending the company’s shares up about 3% after […]<\/p>\n","protected":false},"author":1,"featured_media":7027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-7026","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nEA's quarterly bookings beat estimates on 'FIFA' strength | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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