NEW YORK (TheStreet) -- Shares of Electronic Arts Inc. (EA) are higher by 0.51% to $35.25 as the largest maker of games for the latest generation of consoles is extending its subscription service to more countries as it seeks to attract new players, Bloomberg reports.
The company’s EA Access service became available to users in North America, Australia, New Zealand and western European countries including the U.K. and France, the California-based company said before Europe’s largest gaming exhibition, Gamescom, in Cologne, Germany, which begins tomorrow, Bloomberg said.
EA, which is trying to generate more sales from digital downloads, will have its new service limited to Microsoft's (MSFT) Xbox One for now.
Users get unlimited access for a monthly or annual fee to a pool of titles including Madden NFL 25, Peggle 2 and Battlefield 4. Sony Corp. (SNE), whose PlayStation 4 also gets many EA games, decided to start its own subscription service, PlayStation Now, Bloomberg noted.
TheStreet Ratings team rates ELECTRONIC ARTS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELECTRONIC ARTS INC (EA) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."