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EA Financial Results: 'A Clear Disappointment'
by Chris Faylor, Feb 03, 2009 1:54pm PSTElectronic Arts today released its financial results from the third quarter of its 2009 fiscal year, posting an overall net loss of $641 million.
Due to poor holiday sales, the company has "significantly reduced" its outlook for the year, with EA CEO John Riccitiello labeling this "a clear disappointment."
The company's revenue in the third quarter grew by $10 million over that of last year, to $1.74 billion. However, it was hit by highers expenses and investment losses.
Sales were driven by FIFA 09, Rock Band 2, Need for Speed Undercover, Rock Band, Left 4 Dead, Dead Space, Madden NFL 09, Littlest Pet Shop, NBA Live 09 and Mirror's Edge, with Warhammer Online racking up approximately 300,000 subscribers.
Comments
Keep on shoveling shit EA, lets see how that goes for you.
It's funny, EA buys up every dev studio with any talent, immediately puts them to work on some garbage mainstream shit, and when that doesn't sell they fire the new talent...
I cant help but think we'll have a lot more interesting games once EA goes out of business for good..
Can't happen soon enough for me.
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I hope the DRM fiasco had something to do with this and they won't try that again. Install limits suck!
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Also, after saying it posted a loss of $641 million, the next paragraph says their revenue from the third quarter [b]grew[/b] $10 million from the previous year, to $1.74 billion. Does that mean they lost even more money last year? Either way, a $10 million increase doesn't seem like a disappointment to me, especially considering the economical climate.
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