Rochester, NY 8/7/2009 4:47:21 PM
After Hours - Electronic Arts Inc., ERTS - Electronic Arts Market Loss Widens as its Revenue Declines by 20%
Electronic Arts Inc.
Electronic Arts Inc., one of the leading Videogame publisher recently reports that it is suffering from a wider quarterly loss and a 20% decline in revenue, largely because it deferred some revenue from games with online features.
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"We ended up a little bit better than our own internal expectations," said Chief Financial Officer Eric Brown in a telephone interview. He added that the company had also completed about 90% of its previously-announced restructuring plan, which included job cuts and a strategy to focus on fewer games.
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