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News Breaks
December 5, 2013
11:11 EDTEAElectronic Arts sinks after Dice projects put on hold to fix Battlefield
Shares of Electronic Arts (EA) are falling after the company reportedly said that its DICE unit would not undertake any future projects until it solves the problems plaguing the Battlefield 4 video game. WHAT'S NEW: The video game maker's subsidiary, DICE, is "not moving onto future projects or expansions until we sort out all the issues with Battlefield 4," an Electronic Arts representative stated, the website IGN reported yesterday. "We know we still have a ways to go with fixing the game," the website quoted the video game's representative as saying. Server limitations and game ejections are among the problems that users have identified with the game, IGN noted. Battlefield 4 was released in most parts of the world on October 31 or November 1. ANALYST REACTION: In a note to investors, Pacific Crest analyst Evan Wilson wrote that the news "confirms the disappointment" of the Battlefield 4 launch and puts the launch of the next version of the game in jeopardy. If DICE does not launch any big games next year, the company's profits are unlikely to increase in 2014, added Wilson, who estimates that EA's earnings per share in fiscal 2015 will be $1.10, versus analysts' consensus estimate of $1.47. He kept a Sector Perform rating on the shares. PRICE ACTION: In mid-morning trading, Electronic Arts slid $1.74, or 7.8%, to $20.60.
News For EA From The Last 14 Days
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April 21, 2014
07:16 EDTEAElectronic Arts' Titanfall leads March game software sales, Joystiq reports
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06:45 EDTEAApple and Google compete to offer exclusive game apps, WSJ reports
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April 11, 2014
08:15 EDTEAElectronic Arts price target raised to $35 from $32 at Cowen
Cowen raised its price target on Electronic Arts citing the continuation of the console cycle, improved visibility on new titles, and the entrance into strong seasonality. Shares are Outperform rated.

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