Electronic Arts forecast fourth-quarter bookings below Wall Street expectations on Tuesday, as the videogame publisher grapples with a slowdown in spending at its popular soccer franchise. It also announced a $1 billion share repurchase plan,

Electronic Arts (EA) on Tuesday missed on core metrics for the fiscal third-quarter earnings and guided lower than expected for the current quarter. Shares of the company are up 1% in post-market trading.

EA expects fourth-quarter bookings between $1.44 billion and $1.59 billion, compared with estimates of $1.65 billion, as per data compiled by LSEG. The downbeat projection comes a few weeks after the company slashed its annual bookings forecast citing weak in-game spending for "FC 25" and underperformance of its new Dragon Age title amid an uncertain economic environment marked by high inflation.