Electronic Arts Sales Come Up Short in Console Transition
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Electronic Arts Inc., the No. 2 U.S. video-game maker, posted third-quarter sales that fell short of analysts’ estimates and cut its full-year revenue outlook as shoppers spend less on games for old consoles.
Sales, excluding some items, grew 33 percent to $1.57 billion in the quarter ended Dec. 31, the Redwood City, California-based company said today in a statement. That missed the $1.66 billion average of 24 estimates compiled by Bloomberg. Revenue this quarter will be about $800 million, the company said, shy of analysts’ estimates of $825.7 million.