Electronics Arts Jumps After Apex Legends Helps Fuel Results
- Early success of title suggests company can challenge Fortnite
- First-quarter forecast is light, due to lack of new releases
Source: EA
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Electronic Arts Inc. gained as much as 10 percent in late trading after the launch of the Apex Legends game helped fourth-quarter results zoom past analysts’ estimates.
The company reported a profit of $1.31 a share, excluding some items, compared with a 96-cent projection. Revenue also came in ahead of predictions, though Electronic Arts’ forecast for the current quarter was light.