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0 -0.00317195325542573 -0.0076794657762939 -0.00851419031719531 -0.00901502504173616 0.00116861435726216 0.000834724540901411 -0.00651085141903174
Stock impact report

UPDATE 1-Electronic Arts forecasts lower annual bookings as gamers cut back amid high inflation Tue, May 7, 2024, 10:10 PM GMT+2 2 min read 0 In this article: Advertisement Up next EV Truc...

Nikola Corporation (NKLA) 
estimates on Tuesday, hit by weak spending on its flagship titles such as "FC 24" and "Madden NFL 24" amid an uncertain economic outlook The Redwood City, California-based company, whose shares were down about 4% in extended trading, also authorized a new three-year stock buyback plan totaling $5 billion. The dour forecast from EA, one of the biggest names in gaming, will add to the industry's already gloomy outlook, which has been coping with gamers cutting back on discretionary spending amid high inflation. Large firms, including Japan's Sony and "Grand Theft Auto" maker Take-Two Interactive, have been aggressively cutting costs in recent months to combat the economic uncertainty and slumping game demand. Analysts from Roth MKM had warned about the company's outlook in a research note last week citing a lack of visibility into EA's development pipeline and lighter release schedule. EA also cut its workforce by 5% in February as part of a restructuring plan, which includes Show less Read more
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