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EA cuts forecast on slow Q4 sales

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EA's dropped its fourth quarter estimates, warning that its holiday roster has failed to meet expectation.

The firm's stock closed 11 percent down on the day, souring to $19.35.

EA said it expected net revenue to come in between $4.9 billion and $5.15 billion for the year, with earnings of $1 to $1.40 a share.

EA did not give a specific revenue or earnings target in its newest statement. The company said it will not give further information before its next earnings report, due in February.

"While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations," said CEO John Riccitiello.

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Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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