Codemasters Group Holdings PLC (LON:CDM) shares were higher on Tuesday after the video game developer said it now expects its full-year revenues and adjusted earnings (EBITDA) will be “significantly ahead of current market expectations” following a “particularly strong” start to its current financial year.
In a trading update, the firm said the upgraded forecasts were driven by a strong performance to date of its F1 2020 racing title as well as continued strength in its back catalogue of games.
READ: Codemasters higher as Fast & Furious Crossroads hits gaming market
Meanwhile, Codemasters said Fast & Furious Crossroads, released on August 7, has performed as anticipated to date, while levels of pre-orders from both retailers and consumers for title launches scheduled across the rest of the year remained consistent with original expectations.
Titles currently with confirmed launch dates include Project Cars 3, to be released on August 28, and rally game DiRT 5 on October 16.
Codemasters shares jumped 6.6% to 401.9p in early deals.