EA hikes annual sales outlook as lockdown boost for videogames continues

An Electronic Arts office is shown in Los Angeles, California, U.S., July 27, 2020. REUTERS/Mike Blake

(Reuters) - Electronic Arts Inc on Tuesday raised its annual sales outlook, betting on strong sales of its sports titles including "FIFA 21" and "Madden NFL 21" as more people turn to videogames to keep themselves entertained during COVID-19 lockdowns.

Shares of the company, however, fell 5% in extended trading after EA's 98 cents adjusted profit forecast for the current quarter missed analysts' average estimate by 2 cents.