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(Reuters) -Electronic Arts Inc lowered its annual bookings forecast on Tuesday, as the videogame publisher delayed the release of a title based on the "Star Wars" franchise and consumers dialed back spending in a sagging economy. The company's shares fell nearly 7% in extended trading as the results added to last week's grim gaming forecast from Xbox maker Microsoft Corp, fanning fears that a downturn in the industry was set to continue this year. After two years of pandemic-driven growth, the gaming market fell 4.3% in 2022, according to estimates from analytics firm NewZoo.
REDWOOD CITY, Calif., January 31, 2023--Electronic Arts Inc. (NASDAQ:EA) today announced preliminary financial results for its third fiscal quarter ended December 31, 2022.