By FileTrekker 5 years ago, last updated 5 years ago
Despite good news surrounding the launch of Apex Legends, the shockingly poor performance of Battlefield V has lead to EA's stock dropping to it's lowest price since 1999, causing a huge amount of worry for investors on Wall Street that the company is misfiring with major IP's.
CEO Andrew Wilson warned that EA faced "significant challenges" during the third and fourth fiscal quarters due to the lacklustre sales of it's blockbuster title, which sold a million copies less than the company had predicted.
Wilson also went on to say that delays in it's development, combined with a holiday launch resulting in discounts on the game close to launch, have also hurt it's bottom line...
As a result of these decisions, we struggled to gain momentum and did not meet expectations for the quarter. We made some calculated decisions that did not work as planned in Q3 and we did not execute well in other areas of our business. Against the backdrop of a very competitive quarter, the combination of those factors led to our underperformance.
Despite this, the company has still turned a profit in the last quarter, but it does leave EA on some ropey ground for the coming months, with good sales performance from Apex Legends and the soon to be released Anthem being critical.
Stay tuned to GameFront for more as it happens.
There are no comments yet. Be the first!