WMT - Roblox And Electronic Arts Are Struggling With Muted Player Spending | Benzinga
On Thursday, Roblox Corporation (NYSE: RBLX) dialed back its growth forecasts after its first quarter report reflected a slowdown in player spending due to an uncertain economic outlook and persistently high inflation. Upon the report, the shares of the metaverse giant slid more than 20% in early trading and closed 22% lower on the day. Earlier this week, Electronic Arts Inc (NASDAQ: EA) also provided a lackluster revenue forecast for the full year.
Electronic Arts- miss and soft guidance.
Electronic Arts slightly missed revenue and earnings estimates with its latest quarterly results. With a revenue drop of 5.1% YoY, Electronic Arts posted sales of $1.78 billion. But while Electronic Arts reported a loss of $0.04 per share for last year’s comparable quarter, it now posted GAAP profit of $0.67 per share. All in all, there weren’t many positives in the latest quarterly results that Electronic Arts posted as besides having a tough quarter, the video game publisher also announced more challenges lie ahead.
Roblox also cut its forecast
The metaverse giant guided for full-year ...