Electronic Arts stock rises on latest FIFA game release
Yahoo Finance Live examines EA shares amid its latest partnership with the FIFA World Cup on its latest video game release.
Video Transcript
[AUDIO LOGO]
DAVE BRIGGS: My play is EA, Electronic Arts, shares up on its latest earnings report. Despite a postpandemic pullback and gaming and currency headwinds, EA did beat on revenue and EPS, the company touting a record-breaking launch of "FIFA 23" with over 10.3 million players within the first week, signaling the biggest launch period ever in EA Sports' "FIFA" franchise history. They added this year's title has been played in more than 200 nations worldwide.
The CEO Andrew Wilson saying the entire global football community across our ecosystem will benefit from the unique holiday timing of the World Cup. And that's because of the change of the schedule because of the heat in Qatar. It's now just 18 days away, by the way.
They did lower their annual bookings forecast to between 7.65 and 7.85 billion from 7.9 to $8.1 billion. Overall, the gaming market is expected to grow just 2% in 2022. So you're really seeing some shrinking there.
Earlier this week, EA also announced a three-game deal with Marvel, which will start with an Iron Man game. The stock up just about 2%. Was up much higher. But, like the rest of the market, pulled back a bit, down about 4% year to date, Rachelle.
RACHELLE AKUFFO: I mean, I will say, you couldn't have asked for better time if you partnered, EA, FIFA, and the World Cup. Want to talk about a match made in heaven? I'm super-excited for the World Cup. You will hear me talking about it constantly. So yes a boon there, obviously.
Someone even on Twitter challenged me to a "FIFA" match. I was like, I don't even play the game.
SEANA SMITH: You've got to take them up on it.
RACHELLE AKUFFO: --in this. But--
DAVE BRIGGS: Oh, you don't play?
RACHELLE AKUFFO: I've got to try. I don't even play. But I might just out of spite.
SEANA SMITH: All right. I'm very excited for the World Cup too getting underway very, very soon.
