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EA raises annual bookings forecast as American football titles outperform
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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.

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