Electronic Arts has reported current-quarter revenue that falls short of Wall Street estimates, as the company suffers the effects of its momentum Battlefield 2042 flop.
Adjusted revenue for the three months ending June 30 will be $1.2 billion to $1.25 billion, compared to analyst expectations of US$1.45 billion.
Battlefield 2042, a multiplayer-only iteration of the shooter franchise, was launched last November to a muted response and users complaining about severe lag, bugs, and other issues. EA acknowledged the game “did not resonate with fans”, and is now “rethinking the development process from the ground up” for the franchise.
In addition, EA announced yesterday it will end its licensing agreement with FIFA, effective next year.
EA had held the exclusive agreement since 1993, and while shedding the costs of such a deal, no doubt picky users will also shun EA Sports FC, as its now titled, believe it to be an inferior version.
EA is yet to release any major titles in 2022. This week it announced a new mobile game based on The Lord of the Rings franchise.
“With amazing games, built around powerful IP, made by incredibly talented teams, and outstanding engagement in our live services, FY23 is set to be a year of innovation and growth for Electronic Arts,” said CEO Andrew Wilson in a statement.
