Electronics Art stock pops after detailing early 'Apex Legends' popularity
Electronic Arts Inc. (EA) shares jumped more than 6% in after-hours trading Monday after the videogame publisher detailed early results for a new game, "Apex Legends." In a post (https://www.ea.com/news/apex-legends-25-million-players) after the market closed, EA executive Vince Zampella wrote that the game had attracted 25 million new players in its first week of availability, and that 2 million people were playing the game at one time in peak times during the weekend. EA shares were slammed after earnings last week (http://www.marketwatch.com/story/electronic-arts-stock-heads-toward-largest-drop-in-more-than-a-decade-after-earnings-miss-2019-02-05), and the company admitted that the lack of a "Fortnite"-style battle royale mode (http://www.marketwatch.com/story/the-fortnite-effect-slams-videogame-makers-stocks-2019-02-06) had hurt its big holiday launch of "Battlefield V." While "Apex Legends" is more similar to "Fortnite" in playing style, it is not the same, with monetization especially different (https://www.barrons.com/articles/ea-electronic-arts-stock-gain-apex-legends-upgrade-51549899288). EA shares jumped Friday after it said that 10 million players had signed on to the game (http://www.marketwatch.com/story/ea-stock-jumps-after-company-says-apex-legends-hit-10-million-players-in-first-three-days-2019-02-08), and were up early in Monday's trading session after Bank of America upgraded the stock on the early strength of "Apex Legends," but shares ended the day down 0.4% before the after-hours bump.
-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 11, 2019 20:00 ET (01:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.