NJ5 on 09 December 2008
REDWOOD CITY, Calif. (AP) -- Video game publisher Electronic Arts says it expects revenue and earnings for fiscal 2009 to miss its prior outlook because of weaker-than-expected holiday sales -- and it may cut more jobs to reduce costs.
The Redwood City-based Electronic Arts Inc., which publishes the "Madden" football video game series, said Tuesday its sales in North America and Europe were below expectations.
The company says it does not plan to provide an updated forecast for the year.
In October, EA predicted earnings per share of $1 and $1.40 for the fiscal year ending in March. The company also said at the time it plans to cut between 500 to 600 jobs across all functions and locations to lower costs.
Analysts polled by Thomson Reuters expect the company to report earnings of $1.16 per share in fiscal 2009.
EA says it is reducing its product portfolio for fiscal 2010 with more job cuts and facility consolidations.
The Redwood City-based Electronic Arts Inc., which publishes the "Madden" football video game series, said Tuesday its sales in North America and Europe were below expectations.
The company says it does not plan to provide an updated forecast for the year.
In October, EA predicted earnings per share of $1 and $1.40 for the fiscal year ending in March. The company also said at the time it plans to cut between 500 to 600 jobs across all functions and locations to lower costs.
Analysts polled by Thomson Reuters expect the company to report earnings of $1.16 per share in fiscal 2009.
EA says it is reducing its product portfolio for fiscal 2010 with more job cuts and facility consolidations.
Source:
http://finance.yahoo.com/news/Electronic-Arts-warns-on-2009-apf-13787862.html
My Mario Kart Wii friend code: 2707-1866-0957
