Electronic Arts’ stock is taking a beating as investors react to the company’s recent lackluster earnings report, which saw both the video game publisher’s revenue and net income decrease.
EA reported late Thursday its revenue for the fiscal 2021 second quarter totaled $1.1 billion, down from $1.3 billion this time last year. The company’s net income shrunk dramatically to $185 million, down from $854 million in last year’s second quarter.
EA’s net bookings — transactions made by players in-game — decreased roughly 31% annually to $910 million.
Investors responded swiftly to the earnings report, and proceeded to dump stock. EA’s stock price was down about 10% around 7 a.m.