• News

EA lowers FY 2023 revenue guidance on $200 million currency headwind

In EA's Q2 2023 earnings report, the company reduced its revenue guidance for the fiscal year 2023.

Donovan Erskine

November 1, 2022 1:35 PM

1

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.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_