EA ‘more optimistic than ever’ as gaming boom intact, for now

Electronic Arts Inc forecasted current-quarter adjusted sales above estimates, as the videogame publisher bets on a strong performance from mainstay titles like “FIFA 21” and “Apex Legends”, sending its shares up nearly 5%.

Redwood City, California-based EA also raised its annual sales forecast, but that missed estimates, ahead of a likely slowdown in gaming as world economies inch back to normal, enticing gamers to ditch their consoles and step outside.

Rivals Take-Two and Activision Blizzard also forecast disappointing annual revenue earlier this week.

But for now, the pandemic-era gaming frenzy is on track.

“We are feeling more optimistic than we have ever felt in this business right now,” Chief Financial Officer Blake Jorgensen said in an interview, and people are engaging more with titles like “Battlefield” and “Apex Legends”.