Electronic Arts Gains After Forecast Tops Estimates
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Electronic Arts Inc., the No. 2 U.S. video-game maker, rose the most in 13 years after forecasting annual profit that exceeded analysts’ estimates, a result of cost cutting.
Electronic Arts soared 17 percent to $21.56 at the close in in New York, after delivering its forecast with fourth-quarter results yesterday. It was the biggest jump since December 2000. The stock has advanced 48 percent this year, while the Standard & Poor’s 500 Index has gained 14 percent.