Sullla on 04 February 2009
Electronic Arts climbed 84 cents, or 5.4 percent, to $16.34 in extended trading, after the company said it would reduce operating expenses by $500 million in fiscal 2010. The shares rose 64 cents to $15.50 in regular Nasdaq Stock Market trading, and have fallen 68 percent in the past year.
Argh. Why didn't I short EA stock last year?! I was so convinced that they were going to make big losses too. It was pretty obvious from their financials over the past couple of years that they were flat on revenue, and their costs kept spiraling upwards. I'm an idiot sometimes.
End of 2008 totals: Wii 42m, 360 24m, PS3 18.5m (made Jan. 4, 2008)
