EA Posts Second Quarter Loss
EA took stock of its second quarter fiscal results yesterday, noting a net loss of $195 million and proposing a plan for reorganization.
The financial performance contrasted with a $22 million gain over the same period last year. The new plan, stamped with a seal of approval by the company's board of directors, is estimated to save more than $25 million and will include both branch closures and downsizing.
The operation will be carried out over a two-year period.
The financial results bring the company's total year-to-date losses to $328 million and bring its revenues down 18 percent for the quarter to $640 million.
Nonetheless, the game publishing giant expects to rebound on the strength of its holiday lineup of the ever-reliable sports game titles and a list of AAA games that includes Crysis and Rock Band.
Source: Shacknews.com [http://shacknews.com/onearticle.x/49740]
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EA took stock of its second quarter fiscal results yesterday, noting a net loss of $195 million and proposing a plan for reorganization.
The financial performance contrasted with a $22 million gain over the same period last year. The new plan, stamped with a seal of approval by the company's board of directors, is estimated to save more than $25 million and will include both branch closures and downsizing.
The operation will be carried out over a two-year period.
The financial results bring the company's total year-to-date losses to $328 million and bring its revenues down 18 percent for the quarter to $640 million.
Nonetheless, the game publishing giant expects to rebound on the strength of its holiday lineup of the ever-reliable sports game titles and a list of AAA games that includes Crysis and Rock Band.
Source: Shacknews.com [http://shacknews.com/onearticle.x/49740]
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