Electronic Arts (EA) on Tuesday lowered its annual booking forecast as publishers of FIFA and Apex Legends struggle with a boom in the US dollar this year and a gaming industry slump from the heights of the pandemic. The company now expects annual bookings – an indicator of future revenue – between $7.65 billion (about Rs 63,280 crore) and $7.85 billion (about Rs 64,930 crore), up from $7.90 billion (about Rs 65,350 crore) to $8.10 Compared to billion (approx). Rupee. 67,000 crore) earlier.
After a meteoric rise during the pandemic, video game sales have plummeted this year because of a lack of major releases and less spending by consumers facing decades of high inflation.
This, along with the industry’s protracted supply-chain challenges, also put pressure on Sony’s quarterly revenue. playstation 5 and Microsoft xbox Contents and Services.
Overall, the gaming market is expected to grow only 2 percent in 2022, according to data from the research firm newzooFar from the 23 percent jump of 2020.
A nearly 17 percent increase in the US dollar this year has suppressed growth, as well. EA Annual bookings have been estimated to drop by around $200 million (approximately Rs 1,650 crore). The company earns more than half of its revenue from outside the US. But EA, which had no major releases in the first three quarters of 2022, may get some support from its October launch. fifa 23 – The latest installment in its popular football franchise.
FIFA 23 had the best launch week of any sport in the series, and it is gearing up for more demand thanks to next month’s Football World Cup in Qatar. According to Refinitiv data, EA reported second quarter adjusted sales of $1.75 billion (about Rs 14,475 crore), missing from the $1.80 billion (about Rs 14,890 crore) expected by analysts.
Net income rose to $299 million (approximately Rs 2,470 crore) or $1.07 per share, from $294 million (approximately Rs 2,430 crore) or $1.02 (approximately Rs 85) per share a year ago.
© Thomson Reuters 2022