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EA Financial Results: 'A Clear Disappointment'

Electronic 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.