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EA slashes Q3 losses but reduces full-year outlook

Monday, 8th February 2010 22:11 GMT By Patrick Garratt

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EA has drastically reduced losses in its third quarter, reduced deficit from $641 million to $82 million year-over-year.

Net revenue for the quarter was down to $1.243 billion from $1.654 billion in the prior year, a drop of 25 percent.

Full-year estimates are well down on analysts approximations. EA is now expecting 50-70 cents a share for the 12 months ending March 2010, with non-GAAP revenue between $3.65 billion and $3.9 billion.

Analysts, according to concensus, were expecting earnings of 74 cents a share on revenue of $4.07 billion for the period.

EA shares have taken a 9 percent hit in US after hours trading as a result of the adjusted guidance.

Get the full announcement here.

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