Electronic Arts cuts bookings view on 'Star Wars' game delay, spending slowdown

EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration

(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.