financetom
Business
financetom
/
Business
/
EA raises annual bookings forecast as American football titles outperform
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EA raises annual bookings forecast as American football titles outperform
Nov 3, 2024 2:20 PM

Oct 29 (Reuters) - Videogame publisher Electronic Arts ( EA )

raised its forecast for fiscal 2025 bookings on Tuesday,

helped by strong performance of its sports titles amid a

cautious spending environment.

EA's sports titles "Madden NFL" and "College Football" show

strong engagement even as the industry navigates a challenging

time marked by higher inflation.

The company now expects full-year bookings in the range of

$7.50 billion to $7.80 billion, compared with its prior forecast

of $7.30 billion to $7.70 billion.

Last month, the company at its investor day said it expects

to achieve the higher end of its annual bookings forecast, with

its football titles expected to record over $1 billion in

bookings in the fiscal year.

"Madden NFL 25" and "College Football 25" dominated U.S.

August video game sales, with the new college sports title

claiming the top-selling title of the year, according to

industry tracker Circana.

To ease investor worries that college football would eat

into the sales of the new Madden title, the company launched the

"EA Sports MVP Bundle," featuring both games. The bundle is also

seeing strong sales, according to Circana.

The company reported net bookings of $2.08 billion for the

second quarter, beating analysts' average estimate of $2.04

billion, according to data compiled by LSEG.

EA raised its expectations for annual net income to between

$1.02 billion and $1.16 billion, from $904 million and $1.09

billion.

On an adjusted basis, the company earned $2.15 per share,

compared with estimates of $2.02 per share.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
South Korea to require EV makers to disclose battery brands after fire, media report says
South Korea to require EV makers to disclose battery brands after fire, media report says
Aug 7, 2024
SEOUL, Aug 8 (Reuters) - South Korea plans to require electric vehicle (EV) makers to disclose the brand of batteries in cars due to safety concerns after a vehicle in an underground parking lot caught fire, causing extensive damage, a newspaper reported on Thursday. The transport ministry intended to amend laws to require car companies to identify battery manufacturers, the...
Japan's Shiseido becomes latest luxury brand hit by China slump, shares plunge
Japan's Shiseido becomes latest luxury brand hit by China slump, shares plunge
Aug 7, 2024
TOKYO (Reuters) - Japanese cosmetics powerhouse Shiseido ( SSDOF ) fell by its daily limit in Tokyo trading on Thursday following midyear earnings that were hit by restructuring costs and slumping demand in China. Shiseido ( SSDOF ) becomes the latest casualty among luxury brands, including Cartier-owner Richemont and Gucci's Kering, to be stung by slowing growth and consumer confidence...
MG Motor to build manufacturing plant, R&D center in Mexico
MG Motor to build manufacturing plant, R&D center in Mexico
Aug 7, 2024
MEXICO CITY (Reuters) -MG Motor plans to build a manufacturing plant and a research and development center in Mexico, the carmaker said on Wednesday. The move will allow MG - a formerly British brand now owned by China's SAIC Motor Corp - to not only produce vehicles, but to also produce market intelligence specifically designed for and by Latin America,...
DBS picks insider Tan Su Shan as first female CEO to lead Southeast Asia's biggest bank
DBS picks insider Tan Su Shan as first female CEO to lead Southeast Asia's biggest bank
Aug 7, 2024
By Roushni Nair and Yantoultra Ngui (Reuters) -DBS Group said on Wednesday Tan Su Shan, its head of institutional banking, will succeed Piyush Gupta as CEO when he retires in March, making her the first woman to lead Singapore's and Southeast Asia's biggest bank. CEO Gupta retires on 28 March 2025, when the bank hosts its next annual general meeting....
Copyright 2023-2026 - www.financetom.com All Rights Reserved