News for Electronic Arts
Jan 11 · 4:56:00 PM · Source: Company News Release
Electronic Arts Monday said it expects GAAP and non-GAAP net revenue and earnings per share for the fiscal year ending March 31, 2010 to be below the financial guidance previously provided on November 9, 2009. Revised fiscal year 2010 expectations are primarily the result of weakness for EA and the overall packaged goods sector in Europe in December, and a product mix shift to lower margin distribution products in the December quarter, primarily in North America.
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by Larry Etter
Nov 9 · 7:11:00 PM · Source: Company News
Electronic Arts said Monday it posted a fiscal second quarter net loss of $391 million, or $1.21 a share, 26 percent higher than the loss from a year earlier. Net sales fell 12 percent to $788 million in the July-September period. The gaming company also said it's laying off 1,500 employees, or about 17 percent, to focus on games that have higher profit margins.
But sales including deferred revenue from online games grew 2 percent to $1.15 billion, inching past Wall Street's expectations.
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by Larry Etter
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