EA stock drops 18% after 3Q miss and cuts revenue outlook
Highlights:
BFV sold 7.3 million, 1 million less than expected. COO and CFO Blake Jorgensen blames devs for focusing on single player campaign instead of Firestorm, it’s BR mode. Firestorm still releasing in March. No comment on Monetization. Other factors blamed: intense competition from CoD, RDR2, and Fortnite, delay to make a “better game”, poor marketing, and longer dev cycle.
Mobile revenue dropped 23%
EA sports especially FIFA Ultimate Team continue to make bank and is only thing holding up this house of cards
Happy with Apex launch but too early to tell if it will last
Anthem expected to sell 5-6 million in first quarter despite demo.
EA confirmed PvZ shooter, new Need For Speed, Star Wars Jedi Fallen Order And Titanfall-related Game this year.