EA to lose $111m in Q2, predict experts

EA will report a loss of $111m for its fiscal Q2 in 2008-2009 tomorrow.

That’s according to top analysts, reports Forbes, who believe that for the three months ended June 30th, will report a total loss of 33 cents per share.

However, that compares favourably with a loss of $132 million, or 42 cents per share, for the year-ago period – according to the average estimates of analysts polled by Thomson Financial.

Revenues for the quarter are expected to jump 60 per cent to $633.9 million from $431 million a year ago.

Forbes reports: ‘A loss this time of year is typical in the game industry, since most companies, including EA, backload their release schedule to capitalize on holiday spending dollars. Analysts’ concerns, however, aren’t about EA’s actual performance but investor expectations – this is the first quarter EA hasn’t provided quarterly guidance.’

EA, however, said it will continue to provide annual financial guidance.

EA’s shares hit a 52-week low of $43.13 on July 11th, closed up 51 cents to $47.73 in trading on Friday.