Electronic Arts misses quarterly bookings estimates ahead of Saudi-backed buyout

Aug. 3 (Reuters) - Videogame publisher Electronic Arts missed expectations for first-quarter bookings on Monday, hit by a post-launch decline in engagement for its "Battlefield" franchise ahead of its Saudi-backed acquisition.

Despite having a strong launch last year, "Battlefield 6" has struggled to maintain player engagement, raising concerns about its long-term live-service revenue potential. The Redwood City, California-based company relies heavily on in-game spending to extend the life cycles of its titles and derive consistent revenue.

Electronic Arts is likely to feel the heat from Take-Two Interactive's upcoming blockbuster release of "Grand Theft Auto VI", which is expected to command player attention and funnel discretionary spending away from rivals.

The gaming company reported first-quarter bookings of $1.35 billion, missing analysts' average estimate of $1.48 billion, according to data compiled by LSEG. Profit rose to $397 million for the quarter ended June 30, from $201 million in the year-ago period.

Last week, Saudi Arabia's Public Investment Fund and a group of investors gained EU approval for their $55 billion deal to take Electronic Arts private.