Electronic Arts Beats Estimates
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Electronic Arts blew past Wall Street’s second-quarter estimates for its top and bottom lines while lifting sales expectations for the full year. Shares were recently up 8.4% in after-hours trading, adding another $4.47 to its $57.47 share price.
The company’s Madden NFL 07, which sold 5 million copies in five weeks, and NCAA Football 07, which sold more than 2 million copies in the quarter, plus FIFA 07 and NBA Live 07 games drove strong sales. Better execution on the launches, improved product quality, more robust Xbox 360 and Playstation 2 markets, as well as a marketing relationship with ESPN, has helped drive the sports franchise, executives said.
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