Electronic Arts did not perform to expectations during this third financial quarter, said company CEO Andrew Wilson in a statement following the release of Tuesday’s Q3 financial results. But Electronic Arts is now looking to its releases of”Anthem” and “Apex Legends” to help following this “difficult quarter”.
“The video game industry continues to grow through a year of intense competition and transformational change,” said Wilson. “Q3 was a difficult quarter for Electronic Arts and we did not perform to our expectations. We are now applying the strengths of our company to sharpen our execution and focus on delivering great new games and long-term live services for our players. We’re very excited about Apex Legends, the upcoming launch of Anthem, and a deep line-up of new experiences that we’ll bring to our global communities next fiscal year.”
EA lowered its revenue outlook following lackluster sales of its newly launched “Battlefield V” which faces stiff competition from the likes of “Red Dead Redemption” and “Fortnite.”
The company also cut its projections for the full year, adjusting revenue from $5.20 billion to $4.75 billion from $5.20 billion.
Electronic Arts also saw a six percent increase year-over-year, with digital net bookings for the past 12 months reaching $3.577 billion. During this quarter “Battlefield V” and “Command & Conquer: Rivals” were released, and “FIFA Ultimate Team”saw a 15 percent increase in matches played. “FIFA 19” was the highest-selling console game in Europe during 2018, said EA.
“FIFA stands out as a robust franchise through a tumultuous year in the video game industry,” said COO and CFO Blake Jorgensen. “Elsewhere in the business, we’re making adjustments to improve execution and we’re refocusing R&D. Looking forward, we’re delighted to launch Anthem, our new IP, to grow Apex Legends and related Titanfall experiences, to deliver new Plants vs. Zombies and Need for Speed titles, and to add Star Wars Jedi: Fallen Order to our sports titles in the fall.”
“Apex Legends” is Electronic Arts and Respawn Entertainment’s new free-to-play battle royale shooter. The game, set in the “Titanfall” universe, takes on competition like “Fortnite” and “PUBG” with a cast of eight Legend characters with unique abilities and play styles for matches where the last team standing emerges victorious. The game is available on Xbox One, PlayStation 4, and Origin for PC.
“Anthem” is a multiplayer action game developed by BioWare. A VIP demo has been live since January, but players have experienced major server issues either prevented them from joining the demo or caused major problems during matches.