SNE - Why Microsoft's Huge Quarter Is Great News for Electronic Arts
Microsoft (NASDAQ: MSFT) just had its most successful gaming console launch in company history. The launch of Xbox Series X and Series S helped drive an 86% increase in Xbox hardware revenue during the holiday quarter. The stellar results shouldn't be a surprise, given that the new consoles, including Sony 's (NYSE: SNE) PlayStation 5, have been consistently sold out at retail stores since launching in November.
This is fantastic news for top video game maker Electronic Arts (NASDAQ: EA) , which is hoping to ride the coattails of demand to fuel growth with its EA Play subscription service and new game sales this year.
Image source: Microsoft.
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Why Microsoft's Huge Quarter Is Great News for Electronic Arts