Electronic Arts Inc. (NASDAQ:EA) closed lower Tuesday after the company outlined its long-term growth strategy at its Investor Day event.
The Details: EA shared an in-depth look at the initiatives and experiences driving its strategic pillars to accelerate growth and outlined how AI drives efficiency, expansion and transformation at EA. The company said it is on track toward the high end of the net bookings guidance for the second quarter and fiscal year.
EA said it expects sustained growth in EA SPORTS and outlined plans for new business opportunities beyond gaming, including the EA SPORTS App. It described the EA SPORTS App as socially driven with sports content, live sports data, interactivity and gaming centered on global football.
"We are excited to unveil an in-depth look inside the growing scale and scope of our IP portfolio, as we accelerate engagement and social connection in and around our biggest franchises," said Andrew Wilson, CEO of EA.
"We are also introducing new experiences and leveraging innovative technology to serve our global communities and attract new audiences, as we continue to transform our business and shape the future of entertainment," Wilson added.
EA Price Action: According to Benzinga Pro, Electronic Arts shares ended Tuesday's session down 2.68% at $142.59.
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