Boom! EA Scores with Madden
Electronic Arts (ERTS) looks like it's scored a touchdown in the early going with the latest version of its flagship Madden NFL football game.
Retailers sold a record 2 million copies of the title in its first week on store shelves, EA said on Thursday. That's up 12% from last year and translates into retail sales of about $100 million, a company representative said.
EA didn't break out sales for individual platforms, but sales of Madden were likely boosted by the Xbox 360 version of the game. Microsoft didn't launch the Xbox 360 until a couple of months after EA released last year's version of Madden for other platforms.The results may be an encouraging sign that the video-game software industry is finally nearing the end of its difficult transition to new hardware. That transition has caused industry sales to slump overall and has generally cut into the bottom lines at the video game-software publishers such as EA. However, it remains to be seen how the Madden sales will affect EA's bottom line. The company reportedly signed hefty licensing deals with John Madden, Disney's (DIS) ESPN network and the National Football League, all of which will cut into the company's profit from the title. Shares of EA were off 7 cents, or less than 1%, to $50.96 in after-hours trading on Thursday. Earlier in the day, the company's stock closed regular trading up 33 cents, or 0.7%, to $51.03.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV