The famous American game company sees sales during the second quarter of between $1.73 billion and $1.78 billion, compared to estimates of $1.87 billion, according to Refinitiv data.
On the other hand, Rival Activation Blizzard posted a sluggish second-quarter profit, and Sony cut its annual profit forecast due to a faltering PlayStation business.
US consumer spending on video games fell by about 11 percent in June, and is expected to decline by 8.7 percent during 2022 due to growing recession fears, and the lack of game companies’ releases in general, according to NBD analysis.
Economists see the video game industry as one of the sectors that is not affected by the economic recession, as a cheap source of entertainment, but the Chief Financial Officer of “Electronic Arts”, Chris Soh, said that the sector may not be affected by inflation, but it is not “immune” against it.
Suh expected that the dollar’s rise would affect the results of the third and fourth quarters of this year.
Electronic Arts had achieved profits in the first quarter of $ 1.3 billion, less than last year, but it exceeded expectations thanks to sales of the famous “FIFA” game and others.
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