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Jan 30, 2018

EA Q4 revenue tops expectations; Company pins hopes on 'A Way Out'

Electronic Arts

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Videogame publisher Electronic Arts Inc expects the launch of the action-adventure video game, "A Way Out," to drive its revenue in the current quarter, sending its shares up more than 5.8 per cent after the bell.

The company forecast full-year adjusted revenue of US$5.15 billion, above analysts' average estimate of US$5.13 billion.

"Through the fourth quarter and fiscal 2019, we'll be launching games across five different genres, on three different platforms, and to players around the world," Chief Financial Officer Blake Jorgensen said.

However, the company reported revenue for the key holiday-shopping quarter that missed Wall Street expectations, despite the release of its much-anticipated "Star Wars" game.

On an adjusted basis, revenue for the third quarter ended Dec. 31 was US$1.97 billion. Analysts on average had expected US$2.01 billion, according to Thomson Reuters I/B/E/S.