Video game publisher Electronic Arts lowered its 2015 revenue forecast on Tuesday as the arrival of new Xbox and PlayStation 4 consoles is resulting in weaker sales of games for older consoles.
EA's shares dropped as much as 3 percent in after-hours trading after closing at $24.87 on Nasdaq on Tuesday.
Electronic Arts, known for its "FIFA" and "Battlefield" games, said it reduced its non-GAAP revenue forecast for the 2014 fiscal year ending in March to $3.91 billion from its previous forecast of $4 billion. The company, however, raised its earnings forecast for the year, driven by strong cost control measures. It now sees non-GAAP income of $1.30 per share, compared with its previous forecast of $1.22.