EA cuts forecast on slow Q4 sales

By Patrick Garratt, Tuesday, 9 December 2008 22:20 GMT

deadspacea6.jpg

EA’s dropped its fourth quarter estimates, warning that its holiday roster has failed to meet expectation.

The firm’s stock closed 11 percent down on the day, souring to $19.35.

EA said it expected net revenue to come in between $4.9 billion and $5.15 billion for the year, with earnings of $1 to $1.40 a share.

EA did not give a specific revenue or earnings target in its newest statement. The company said it will not give further information before its next earnings report, due in February.

“While we saw significant improvement in the overall quality of our key products this year, we are disappointed that our holiday slate is not meeting our sales expectations,” said CEO John Riccitiello.

More on Marketwatch.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

Comments

Headlines

John Riccitiello

Whoops

  • The Walking Dead: Survival Instinct trailer is unofficial

    A quick, moderately embarrassing update: it turns out yesterday’s trailer for Terminal Reality’s shooter The Walking Dead: Survival Instinct wasn’t an official Activision production.

  • Halo logo shown in place of UN's during BBC report

    A bit of a wince and a giggle out of the UK to kick the morning off; during a report on the ongoing struggles in Syria, BBC News accidentally flashed Halo’s UNSC logo in place of the United Nation’s. Naturally it was captured and YouTubed; check it out through the break.