Electronic Arts Inc. (EA) had a great fiscal second quarter, topping analysts' earnings and revenue expectations, but investors were disappointed with the company's prospects for the third quarter.
Electronic Arts shares were dropping more than 4% in morning trading on Wednesday.
The video game maker reported second-quarter earnings of 98 cents a share on an adjusted basis, swinging to a profit after losing 7 cents a share last year. Revenue in the second quarter rose to $1.22 billion. Analysts were expecting earnings of 58 cents a share on revenue of $1.18 billion.
For the third quarter, EA expects to generate revenue of $1.73 billion, short of Wall Street's $2 billion estimate due to a delay in the launch of the company's popular "Battlefield V" series.
EA announced in late August that it would delay the debut of the game by about four weeks to Nov. 20, leading the company to reduce its full-year adjusted revenue forecast to $5.2 billion from $5.55 billion.