Electronic Arts Inc posted better-than-expected quarterly revenue on Tuesday, ri...
FILE PHOTO: An Electronic Arts video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United States, June 17, 2015. REUTERS/Lucy Nicholson/File Photo
EA said it expects first-quarter adjusted revenue of $690 million, well below analysts’ estimates of $807.8 million. Its full-year adjusted revenue forecast of $5.10 billion was also below estimates of $5.16 billion. The battle royale format in multi-player gaming, which allows dozens of players to battle each other to the death until the last survivor, became wildly popular in 2018 thanks to “PUBG” and Epic Games’ “Fortnite,” two games which are also credited with introducing newer audiences to gaming.
Apex Legends had 50 million sign ups in just a month, suggesting that EA could withstand competition from “Fortnite”.
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