There’s some good Electronic Arts news that has EA stock heading higher on Monday.
Electronic Arts (NASDAQ:EA) says that the recent launch of its battle royale game Apex Legends is doing incredibly well. The company notes that the game was able to surpass 10 million players just 72 hours after its launch.
That Electronic Arts news is already a big positive for the company, but there’s more. EA also mentions in the same announcement that Apex Legends has surpassed 1 million concurrent players.
“This has been a truly incredible journey. We tested and tweaked. We argued and agreed. We got to a point where we felt some magic,” Vince Zampella, CEO of Apex Legends developer Respawn Entertainment, said in a statement. “We knew it would be risky to take the franchise in this direction, to go free to play, and do a surprise launch. But we fell in love with Apex Legends and wanted, needed, other people to play it too.”
The Electronic Arts news boosting EA stock on Monday is helping it recover from the company’s recent earnings report. While the earnings report did see the company beating Wall Street’s earnings per share estimate, it missed revenue estimates for the quarter. Earnings per share came in at $1.95 and revenue was $1.61 billion. Wall Street was looking for earnings per share and revenue of $1.94 and $1.71 billion.
EA stock was up 6% as of Monday morning and is up 21% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.