12:56 PM EDT, 03/27/2024 (MT Newswires) -- Electronic Arts' ( EA ) fiscal Q4 bookings are now expected to fall by 11%, UBS said in a note Wednesday.

The firm previously expected a decline of 7%. It now projects bookings at the lower end of the video game company's previously guidance. The bookings increased 1% in fiscal Q3.

UBS said that the bookings decline and a roughly 20% operating income drop reflect headwinds in soccer revenue, the timing of content updates and limited title releases.

"We expect [management's fiscal Q1] guidance to reflect a continuation of difficult comps with the lapping of the Star Wars Survivor and PGA Tour launches in [fiscal Q1] and no comparable titles currently slated," the firm said.

UBS lowered the price target to $143 from $146 for Electronic Arts ( EA ) with a neutral rating.

Price: 130.98, Change: +0.08, Percent Change: +0.06