Electronic Arts reports quarterly loss

Electronic Arts reports quarterly loss

World’s largest videogame publishing company Electronic Arts has come out with their quarterly results and they have disappointed the markets with a fiscal fourth-quarter net loss of $16 million.

This report resulted in the company’s share taking a beating in the stock market as share prices were down by 4%. This result is a disappointment when compared to profits of $8 million, or 2 cents per share in the same period last year.

The revenues were however up at $641 million from $553 million a year earlier. EA has benefited from the popularity of recently launched gaming titles like “Fight Night Round 3”, “The Godfather The Game”, and “Black”.

For this current financial year, EA has forecasted revenue of $2.7 billion to $2.95 billion. Market had expected the company to forecast figures of $3.2 billion.