Electronics Art stock pops after detailing early ‘Apex Legends’ popularity
Electronic Arts Inc. EA, -0.37% shares jumped more than 6% in after-hours trading Monday after the videogame publisher detailed early results for a new game, "Apex Legends." In a post after the market closed, EA executive Vince Zampella wrote that the game had attracted 25 million new players in its first week of availability, and that 2 million people were playing the game at one time in peak times during the weekend. EA shares were slammed after earnings last week, and the company admitted that the lack of a "Fortnite"-style battle royale mode had hurt its big holiday launch of "Battlefield V." While "Apex Legends" is more similar to "Fortnite" in playing style, it is not the same, with monetization especially different. EA shares jumped Friday after it said that 10 million players had signed on to the game, and were up early in Monday’s trading session after Bank of America upgraded the stock on the early strength of "Apex Legends," but shares ended the day down 0.4% before the after-hours bump.
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