EA’s fourth-quarter revenue forecast tops estimates

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(Reuters) – Videogame publisher Electronic Arts Inc (EA.O) expects the launch of the action-adventure video game, “A Way out”, to drive its revenue in the current quarter, sending its shares up more than 5.8 percent after the bell.

The company forecast full-year adjusted revenue of $5.15 billion, above analysts’ average estimate of $5.13 billion.

“Through the fourth quarter and fiscal 2019, we’ll be launching games across five different genres, on three different platforms, and to players around the world,” Chief Financial Officer Blake Jorgensen said.

However, the company reported revenue for the key holiday-shopping quarter that missed Wall Street expectations, despite the release of its much-anticipated “Star Wars” game.

On an adjusted basis, revenue for the third quarter ended Dec. 31 was $1.97 billion. Analysts on average had expected $2.01 billion, according to Thomson Reuters I/B/E/S.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva