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Electronic Arts Defines Financial Delays To Harry Potter Game (ERTS, TWX)
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Electronic Arts Inc (NASDAQ:ERTS) has confirmed the release of the Harry Potter video game, although this might not be good as you’d think for a "feed me now" attitude on Wall Street. The video game giant and Time Warner Inc.’s (NYSE: TWX) Warner Bros. Interactive Entertainment will issue the game for "Harry Potter and the Half-Blood Prince™" video game next summer. This puts it essentially alongside the Warner Bros.’ film. on J.K. Rowling’s sixth Harry Potter book.
Unfortunately, there is a delay of the release of this game now thatthe movie release date was also delayed. The SEC filing alongside theofficial press release said that the video game had originally plannedto be released in November. The studio also noted that it wasexpecting this video game to contribute roughly $120 million in revenueand approximately $0.13 per share for the fiscal year-end of March 31, 2009.
Shares are actually indicated higher this morning pre-market, but thatmay be tied to the market joys in financial stocks more than the actualbenefit to video game sales this Monday. Analysts had slightly trimmedestimates for fiscal March-2009 already. But it doesn’t look this hasbeen reflected in the estimates yet since analystsonly make adjustments after companies formally lower targets. FirstCall has consensus estimates for fiscal March-2009 are EPS of $1.52 on $5.13 billion in revenue.
Jon C. Ogg
September 8, 2008
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