Electronic Arts' Star Wars Game Helps Lift Sales, Profit
January 30 2020 - 04:54PM
Dow Jones News
By Sarah E. Needleman
Electronic Arts Inc.'s latest Star Wars game helped the company
deliver robust holiday-quarter results, with overall revenue and
profit slightly above Wall Street's expectations.
EA said it earned $1.18 a share in its fiscal third quarter, up
from 86 cents a share a year earlier. Revenue rose 24% to $1.59
billion.
On an adjusted basis EA's profit rose to $2.52 a share while net
bookings climbed 23% to about $2 billion, beating analysts'
expectations.
EA's "Star Wars Jedi: Fallen Order" made its debut in November,
and the company previously forecast selling between six and eight
million units of the single-player game by March 31.
Analysts are also expecting strong quarterly results for
Take-Two Interactive Software Inc. and Activision Blizzard Inc.
based on viewership statistics from Amazon.com Inc.'s Twitch,
critics' reviews and company statements about holiday-season
releases. Both companies are scheduled to release their quarterly
reports on Feb. 6. Take-Two faces a somewhat tougher comparison,
though, because its 2018 holiday release, "Red Dead Redemption II,"
was a smash hit that generated opening-weekend sales of about $725
million.
Write to Sarah E. Needleman at sarah.needleman@wsj.com
(END) Dow Jones Newswires
January 30, 2020 16:39 ET (21:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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