Electronic Arts Inc on Thursday raised its full-year forecast for adjusted revenue after beating quarterly estimates, encouraged by strong player engagement and increased videogame sales to stuck-at-home gamers.
) on Thursday raised its full-year forecast for adjusted revenue after beating quarterly estimates, encouraged by strong player engagement and increased videogame sales to stuck-at-home gamers.
EA, popular for titles like “Star Wars Jedi: Fallen Order” and “Battlefield”, raised its full year adjusted revenue outlook to about $5.95 billion from about $5.55 billion, topping analysts’ estimates of $5.61 billion, according to Refinitiv IBES data. Revenue from live services was up by $416 million in the quarter from a year earlier, primarily driven by “FIFA” and “Sims”, a popular life simulation videogame, Chief Financial Officer Blake Jorgensen told Reuters.
Videogame sales have largely benefited as people played more games while staying at home and bought virtual in-game content across platforms, pushing June sales up 26% to $1.2 billion, which is the highest June spend in over a decade according to research firm NPD.
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