Electronic Arts announces new Battlefield V release date and revises earnings forecast
There, there, investors. It'll be alright. Electronic Arts has plans to keep making you money!
Electronic Arts today announced that it has pushed back its release date for Battlefield V, the upcoming next installment in the popular shooter franchise, and that it has accordingly revised its net bookings outlook for fiscal 2019. The adjustment was also impacted by foreign exchange rates and a revised mobile forecast, though the company had plenty of reassurance to offer investors who may be alarmed by the news.
Battlefield V is now scheduled to arrive throughout the world on November 20, 2018. Or at least, it will on PlayStation 4 and Xbox One. There's no telling when or if the PC edition will reach Japan.
"We believe we've got one of the best Battlefield games ever coming in Battlefield V," said Laura Miele, Chief Studios Officer, Electronic Arts. "Tens of thousands of players have been hands on with the game so far, and we've been honored to receive best multiplayer awards at E3 and Gamescom. We've had valuable feedback from our community, and we're going to take the time to make some final adjustments and deliver a great experience for our fans."
Electronic Arts had in the past rushed its Battlefield experiences, and that didn't really end well. Delaying the game a bit will probably be better for the shareholders' bottom line, especially as Electronic Arts weathers bad publicity due to its lootbox habits and the fallout that resulted there.
"We're updating our fiscal year guidance to reflect the updated launch date for Battlefield V, the ongoing impact of foreign exchange rate changes, and our current outlook for our mobile business," said COO and CFO Blake Jorgensen, who still has one of the coolest names of any industry executive. "Our core businesses, including FIFA Ultimate Team, are strong, we think our players are going to love Battlefield V, and excitement is building for our new IP, Anthem."
EA has updated fiscal year 2019 net bookings guidance from $5.55 billion to $5.20 billion. It reckons $115 million of the change is the fault of foreign exchange rates, but notes that those exchange rates also drive operating expenses lower. So that's good news for someone, probably.
The second fiscal quarter ends on September 30, 2018, and Electronic Arts will share its results in a 2PM (PST) conference call on October 30, 2018. The estimates are just that--estimates--and are subject to change if something unexpected happens... like if Battlefield V defies expectations and totally sucks. But that doesn't seem likely.
Staff article by Jason Venter (August 30, 2018)
Jason Venter has been playing games for 30 years, since discovering the Apple IIe version of Mario Bros. in his elementary school days. Now he writes about them, here at HonestGamers and also at other sites that agree to pay him for his words.
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