Losses up 26% at EA

MCV Staff 10th November 2009 Business News

Publisher EA has suffered another disappointing financial period with news that it suffered a $391m loss in its second quarter – a 26 per cent increase compared to the 310m loss in the same period a hear before.

GAAP revenue was also down 12 per cent at $788m. In the same quarter in 2008 that number stood at $894m.

The numbers are joined by sad news of 1,500 job cuts, though also come a day after EA announced the expected acquisition of casual games outfit Playfish.

EA is performing well, with quality, sales and segment share up so far this year,” CEO John Riccitiello stated.

We are making tough calls to cut cost in targeted areas and investing more in our biggest games and digital businesses.”

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