Electronic Arts FQ1 bookings miss estimates, despite bump from 'Star Wars Jedi: Survivor'
Kevin Winter
Shares of Electronic Arts (NASDAQ:EA) on Tuesday fell nearly 4% in extended trading, after the videogame publisher reported FQ1 bookings that came in short of estimates.
EA stock was down 3.7% to $131.11 after hours.
The company reported net bookings of $1.58B, which missed expectations by $10M. EA's adjusted earnings per share of $1.47 beat consensus by 45 cents.
The bookings figure did jump 21% Y/Y, however, bolstered by the strong performance of the company's Star Wars Jedi: Survivor. According to research group Circana, the action-adventure game was the top selling in the U.S. in April and the third-biggest seller in May.
"We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition,â EA CFO Stuart Canfield said in a statement.
Videogame publishers in general have struggled with increased competition along with slowing spending by gamers amid high inflation and tough macroeconomic conditions.
EA also provided fiscal year 2024 net bookings guidance of about $7.3B to $7.7B, the midpoint of which is $7.5B. The consensus estimate is $7.6B. 
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