Reuters, one of the largest news groups is reporting that EA is to delay many titles in order to combat their current losses. Here is what they had to say:
Could this be affecting Heroes or Battlefield 3? Let's hope not!
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NEW YORK (Reuters) - Video game publisher Electronic Arts Inc posted weaker-than-expected results and said it would delay the release of several games, causing it to forecast a loss for the current fiscal year.
The publisher of popular franchises such as "Need For Speed" and "Madden NFL" forecast fiscal 2010 earnings before items at about $1.00 per share on net revenue of $4.3 billion. Analysts on average had expected earnings of $1.13 per share on revenue of $4.8 billion, according to Reuters Estimates.
EA's fiscal third-quarter net loss was $641 million, or $2.00 a share, compared with a loss of $33 million, or 10 cents a share, a year ago.
EA Chief Financial Officer Eric Brown told Reuters in an interview that the video game industry overall was doing well and that demand was good but concentrated on the best-selling titles.
He said EA expected to develop 10 to 20 percent fewer game titles in fiscal 2010, which begins in April, than in the current fiscal year.
EA said it would delay the release of "Sims 3," "Godfather 2" and "Dragon Age" to fiscal 2010 from fiscal 2009, and that it would narrow its product portfolio and cut other variable costs.
The publisher of popular franchises such as "Need For Speed" and "Madden NFL" forecast fiscal 2010 earnings before items at about $1.00 per share on net revenue of $4.3 billion. Analysts on average had expected earnings of $1.13 per share on revenue of $4.8 billion, according to Reuters Estimates.
EA's fiscal third-quarter net loss was $641 million, or $2.00 a share, compared with a loss of $33 million, or 10 cents a share, a year ago.
EA Chief Financial Officer Eric Brown told Reuters in an interview that the video game industry overall was doing well and that demand was good but concentrated on the best-selling titles.
He said EA expected to develop 10 to 20 percent fewer game titles in fiscal 2010, which begins in April, than in the current fiscal year.
EA said it would delay the release of "Sims 3," "Godfather 2" and "Dragon Age" to fiscal 2010 from fiscal 2009, and that it would narrow its product portfolio and cut other variable costs.
Could this be affecting Heroes or Battlefield 3? Let's hope not!
View source here
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