EA has released its latest earnings report, detailing its financial performance for Q2 2023. It’s here that the company also provided its predictions for its future business. Citing the increased strength in the US dollar value, EA has lowered its revenue guidance for the fiscal year 2023.
On the fourth page of EA’s Q2 2022 earnings report, the company provided the following update on its FY 2023 guidance.
The financial year 2023 will end on March 31, 2023. The volatility of the US Dollar has added extra wrinkles to the financial world. This summer, Netflix pointed to the decreased value of the US Dollar and Euro as a contributing factor to its slow sales growth.
On the release of the company’s Q2 2023 earnings report, EA stock fell sharply to $121.53 per share but began to climb back up shortly after.
EA’s change in revenue guidance for the fiscal year was just one tidbit to come out of its Q2 2023 earnings report, which showed the company beat expectations for both revenue and earnings per share. For more on the business moves of EA and the gaming industry at large, Shacknews has what you need to know.