Electronic Arts shares down after missing quarterly expectations

Analysts had predicted the video game giant would lose 33 cents per adjusted share, but it posted losses of 42 cents per share.

Shares of video game giant Electronic Arts were down 3.27 percent in after-hours trading in the wake of the company's worse than expected first quarter.

On Tuesday, EA reported that it had lost $95 million, or 30 cents a share, during Q1 on net revenues of $804 million. During the same period a year ago, it lost $132 million, or $0.42 a share, on net revenues of $395 million.

The company's adjusted losses came out to 42 cents a share in Q1. Thomson Financial's poll of analysts had predicted the company would post adjusted losses of $0.33 a share, according to the Associated Press.

Still, EA's sales were up more than 100 percent over a year ago, thanks in large part to the success of such titles as Rock Band and the launch of Battlefield: Bad Company and Mass Effect.

And the company's fortunes should be boosted in the next quarter by the expected September 7 launch of the much-anticipated Spore , from its Emeryville, Calif.-based Maxis studio.

 

Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments