Electronic Arts (ERTS) Scores a Goal with FIFA World Cup
If you watched a single World Cup match, you likely saw several advertisements for Electronic Arts (Nasdaq: ERTS) accompanying video game. Apparently, the exposure paid off.
Pro forma revenue for the goliath video game publisher was $539 million versus the consensus of $502 million. Pro forma EPS was $(0.24), compared with the consensus of $(0.35). Sales of FIFA World Cup led the charge as global soccer fans wanted more than just spectating.
Looking to the remainder of 2010, ERTS is in a better position as industry analyst Michael Pachter says, “Its game lineup for the remainder of the year is very strong, with key second half games including high-profile shooters (including Crysis 2, Dead Space 2, and Medal of Honor, EA Sports Active 2.0, Need for Speed: Hot Pursuit and Shift 2, Dragon Age 2, and The Sims Medieval).