EA Loses $641M Last Quarter
Last quarter was not a good one for EA, they saw a $641 million in loss for the fiscal third quarter ending December 31. CEO John Riccitiello had this to say: “Our holiday quarter came in below our expectations and we have significantly reduced our financial outlook for fiscal 2009, a clear disappointment.” They also announced further layoffs (1,100 people, 11% of their total workforce) and facility closures (12 facilities in total will be closed).
That sucks, I thought EA put out quite a few decent titles for the holiday season. Dead Space was amazing and a lot of people enjoyed Mirror’s Edge. I hope this doesn’t discourage them from making good games because they weren’t profitable enough.
[ via Yahoo ]