Electronic Arts Down Big in After-Hours Following Q3 Report

Filed under: Earnings Reports, Microsoft (MSFT), Sony Corp ADR (SNE), Electronic Arts (ERTS), Activision Inc (ATVI), Technology, Nintendo (NTDOY)

Electronic Arts Inc. (ERTS) was down in the after-hours session by over 9% on the heels of the gaming publisher's Q3 report. Non-GAAP sales were off by over 20%. Adjusted income came in at 33 cents per share. This was two cents higher than expectations according to my earnings preview, but a lot less than the 56 cents per share earned in the comparable frame.

The press release mentions the lower quantity of titles released during the holiday season as being a driver of the decline in revenue (a tough European market was also cited). That may be, but it doesn't absolve EA of its fundamental challenges.

Continue reading Electronic Arts Down Big in After-Hours Following Q3 Report

Electronic Arts Down Big in After-Hours Following Q3 Report originally appeared on BloggingStocks on Mon, 08 Feb 2010 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Full story at http://www.pheedcontent.com/click.phdo?i=193e6f4835a71a461edec3950e5b4f59