Electronic Arts Inc. (NASDAQ:EA) Sports Keeping Up With New Gaming Consoles

by Sean Patterson | Thursday, Mar 13, 2014 | 1216 views

Boston, MA, 03/13/2014 – Electronic Arts Inc. (NASDAQ:EA) pushing hard to get popular games on XBOX One and Playstation 4

Gaming software publishers are trying to keep up with the launch of new gaming consoles. Recently launched XBOX One and Playstation 4 are yet to see major game titles from publishers. One of the largest publisher of global gaming industry Electronic Arts Inc. (NASDAQ:EA) recently announced EA Sports UFC for PS4 and XBOX One. UFC, Ultimate Fighting Championship is the popular series EA bought from THQ Inc. in 2012. Bryan Hayes creative director of the game was quoted on Reddit-he said, “We’re pushing the limits in PS4 and XB1”.

Launch of these new gaming consoles have impacted gaming industry largely, publishers are trying to get newer titles on these consoles. Electronic Arts Inc. (NASDAQ:EA) however is not only concentrating on these new consoles which may appear niche to some. During a press conference EA Sports producer Matt Prior told reporters that 2014 FIFA World Cup will skip XBOX One and PS4. Matt told Eurogamer “We only have a certain amount of resources that we can put towards this.” According to EA Sports the game will be available for XBOX 360 and Playstation 3. This decision was to ensure that the game reaches as broad audience as possible.

Electronic Arts Inc. (NASDAQ:EA) reported 33% increase in quarterly revenues over the year to $1.57 Billion, however falling short to the street’s projection of $1.66 Billion. For the current quarter EA has projected revenues to be $800 Million. The company is also betting high on mobile gaming industry. Digital segment revenues fromHandheld and Mobile grew by 26% over the year to reach $125 million. The company expects year end revenues to be $3.91 Billion which is lower from earlier estimates of $4.0 Billion, however Electronic Arts Inc. (NASDAQ:EA) increased its EPS expectations to $1.3, and it was $1.25 earlier.

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