FIFA Soccer Buzz Helps EA Score Rebound From Last Year's Bottom
(Bloomberg) -- Electronic Arts Inc. stock climbed the most in almost a year as it rebounds from its 2018 bottom in late December.
Earlier, the video-game maker's FIFA 2019 Ultimate Team was mentioned positively at M Science after the company announced nominees this week. EA Sports releasing nominees before trimming down to the final list builds much anticipation for soccer videogame fans.
Shares of EA rose as much as 8.3 percent Friday to near its 50-day moving average, a technical level it hasn't traded above since July.
New releases, coupled with the growth of digital video-game software, will continue to drive entertainment-software revenue in 2019, according to Bloomberg Intelligence analyst Matthew Kanterman. And long-term opportunities will only continue to evolve further as developers refine their go-to-market strategies, he said.
To contact the reporter on this story: Kamaron Leach in New York at kleach6@bloomberg.net
To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Sebastian Silva
©2019 Bloomberg L.P.
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