Electronic Arts Inc (NASDAQ:EA, ETR:ERT) 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.
A slowdown in its global football franchise had accounted for the majority of the change, EA said, as momentum seen early in the quarter dropped off.
Newly released title ‘Dragon Age’ had also attracted 50% fewer players than expected, at 1.5 million, EA added.
Third quarter net bookings were expected to sit at US$2.215 billion as a result, against between US$2.4 billion and US$2.55 billion seen previously.
For the year, bookings of between US$7 billion and US$7.15 billion were now forecast, compared to $7.50 billion to $7.80 billion beforehand.
“We continued to deliver high-quality games and experiences across our portfolio,” chief executive Andrew Wilson said, “however, Dragon Age and EA Sports FC 25 underperformed our net bookings expectations”.
Full third-quarter figures were due on February 4, the company added.
Shares dropped 17% to US$118.19 ahead of Thursday’s opening bell.