Electronic Arts was hoping for a big year with the release of its soccer title, EA Sports FC 2025. But it got mixed reviews and EA ditched the "FIFA" branding.
Electronic Arts Inc. (NASDAQ:EA) stock is near the bottom of the Nasdaq today , last seen down 17.3% to trade at $117.62.
GE Aerospace (GE) jumped to levels it hasn't seen since 2007. The company posted an earnings beat and total orders that impressed investors.
Shares of Electronic Arts sank 17% on Thursday after the videogame maker cut its annual forecast, sparking fears over the future of its soccer franchise that has been a cornerstone of its gaming empire.
Electronic Arts Inc tumbled 17% in pre-market trading after slashing guidance on a slowdown in its EA Sports FC franchise over the third quarter. Having guided for mid-single-digit growth in live services net bookings over the year, EA on Wednesday said a mid-single-digit decline was now expected.
Electronic Arts cut its outlook on Wednesday, and Wall Street isn't impressed.
Electronic Arts (EA) shares are tumbling in premarket trading Thursday, a day after slumping demand for its EA SPORTS FC 25 video game prompted the company to cut its outlook.
As previously reported, BofA downgraded Electronic Arts to Neutral from Buy with a price target of $130, down from $170. The firm is no longer confident that EA can gain enough share of player engagement and spending to drive "meaningful growth in a struggling PC/Console game industry" without football as a main growth engine, the analyst tells investors. Despite the fiscal Q3 weakness, "big" FY25 guide-down and lower FY26 growth assumptions, the firm is awaiting evidence of whether FC is in "structural decline," the analyst added. 04 Feb 06 Feb
BofA downgraded Electronic Arts to Neutral from Buy with a $130 price target. 04 Feb 06 Feb
The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Shares of Electronic Arts Inc. fell after hours on Wednesday after the videogame developer cut its outlook for the months ahead, following stumbles in its big soccer gaming franchise as well as in some of its role-playing games during a quarter typically lifted by holiday demand.
Video gaming company Electronic Arts cut its forecast for fiscal year 2025 bookings on Wednesday, citing weakness across some sports titles.