third-quarter 2019 earnings. CEO Andrew Wilson had said the company “did not perform to our expectations,” reporting a revenue miss of $1.61 billion vs. an estimate of $1.75 billion according to Refinitiv. But Friday’s rally puts the stock back in the positive for the week, up 7 percent.
Apex Legends’ quick traction shows some traditional players are beginning to catch up to the free-to-play, battle royale genre of gaming popularized by Fortnite.
A note from KeyBanc Capital Markets published Friday said it took Fortnite two weeks to gain 10 million players, though it said, “It’s unfair to compare the two, because the market for battle royale was clearly very different 12-18 months ago, but regardless,10M players is quite an accomplishment.”
- ^ Electronic Arts (www.cnbc.com)
- ^ gained 10 million players (www.ea.com)
- ^ third-quarter 2019 (www.cnbc.com)
- ^ rocked the traditional gaming industry (www.cnbc.com)
- ^ took Fortnite two weeks (www.engadget.com)
- ^ Subscribe to CNBC on YouTube. (www.youtube.com)
- ^ Electronic Arts misses earnings benchmark (www.cnbc.com)