EA sees full-year revenue above estimates as home-sheltering boosts gaming

(Reuters) - Video game publisher Electronic Arts Inc forecast full-year adjusted revenue above Wall Street estimates on Tuesday, riding on the broader surge in videogame sales as people shelter at home due to the COVID-19 pandemic. FILE PHOTO: An Electronic Arts (EA) video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United States, June 17, 2015. REUTERS/Lucy NicholsonVideogame sales in the United States have surged in the last two months as the virus shut down the country and forced millions inside their homes, with sales in March hitting their highest in over a decade. Analysts expect the extended stay-at-home orders to further boost sales and user engagement for videogames across all platforms. However, EA’s shares were down about 5% in extended trading. “I think investors thought that shelter-in-place would trigger even more growth than they guided to” said Wedbush analyst Michael Pachter.

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