Electronic Arts lowers outlook as Battlefield V release delayed

Videogame publishing giant Electronic Arts lowered its outlook for net bookings in the 2019 fiscal year after delaying the release of Battlefield V by four weeks to 20 November.

Downgrading its net bookings outlook from $5.55bn to $5.20bn, the company said that the measure was also a result of the continuing impact of foreign exchange headwinds and a revised mobile forecast.

Videogame companies use net bookings as opposed to net sales because as it accounts for digital sales, pre-orders and in-store physical sales, among other things.

The NASDAQ listed company said the delay in the release of Battlefield V, which is the latest entry in its hugely successful first-person shooter series, is due to the addition of extra gameplay improvements following closed alpha-testing over the summer months.

Laura Miele, chief studios officer at Electronic Arts, said: "We believe we've got one of the best Battlefield games ever coming in Battlefield V. Tens of thousands of players have been hands-on with the game so far, and we've been honoured to receive best multiplayer awards at E3 and Gamescom."

The multiplayer-focused WW2 shooter’s early showings have been well-received but the revised release date will see it go on sale more than a month after Activision’s Call of Duty: Black Ops 4, which is perceived to be the game’s main competitor.

Blake Jorgensen, chief operating officer and chief financial officer, said: "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."

Electronic Arts' shares were down 7.03% at 119.48p at 1447 BST.