Electronic Arts Shares Slide After Vice Reports Hacking Breach

"We are investigating a recent incident of intrusion into our network where a limited amount of game source code and related tools were stolen," an EA spokesperson told Vice.
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Electronic Arts  (EA) - Get Report shares turned lower Thursday amid reports that the video game maker suffered a massive data breach that could have resulted in the loss of source codes for some if its key products.

Vice reported Thursday that hackers have claimed access to course codes for FIFA 21, one of Electronic Arts' principal game offerings, as well as the code for its matchmaking server. Vice said hackers boasted of the theft on message boards, adding they had obtained source code and tools for EA's 'frostbite' engine, which powers games including Battlefield. 

"We are investigating a recent incident of intrusion into our network where a limited amount of game source code and related tools were stolen," an EA spokesperson told Vice's Motherboard. "No player data was accessed, and we have no reason to believe there is any risk to player privacy. Following the incident, we’ve already made security improvements and do not expect an impact on our games or our business. We are actively working with law enforcement officials and other experts as part of this ongoing criminal investigation."

Electronic Arts shares were marked 2% lower in mid-day trading Thursday following news of the hack and changing hands at $143.00 each. 

Cybersecurity group FireEye  (FEYE) - Get Report gained 6% on the news to trade at $21.20 each while Crowdstrike  (CRWD) - Get Report gained 4.7% to $224.25 each. 

Electronic Arts posted stronger-than-expected first quarter earnings of $1.23 per share last month, on sales of just under $1.5 billion, assuaging concerns that video game makers and distributors would see an erosion of profits as pandemic restrictions eased and workers returned to the office.

In fact, Electronic Arts boosted its full-year sales total to around $7.3 billion, saying that growth in games such as Apex Legends driving strong organic revenue growth.