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Electronic Arts Drops Most Since November on Profit Forecast

  • Company cites hiring for new projects, work-at-home expenses
  • Video-game giant plans to launch a new college-football game
Electronic Arts Inc. Event Ahead Of 2018 E3 Electronic Entertainment Expo
Photographer: Patrick T. Fallon/Bloomberg
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Electronic Arts Inc. fell as much as 6.7%, the most since November, after the video-game maker’s forecast for fourth-quarter profit fell short of analysts’ estimates.

Revenue this period will be $1.38 billion, Electronic Arts said in a statement Tuesday, above the $1.32 billion average of analysts’ estimates. But adjusted earnings are forecast to come in at 98 cents, below the $1-a-share average forecast on Wall Street. The company blamed expenses for employees working at home and hiring for new projects.