EA stock plunges 17% on profit warning, down 70% this year

By Mike
10 December 2008 21:49 GMT

EA’s shares plummeted 17 percent today in the wake of a Q4 profit warning, leaving the company 70 percent down for the year.

The company is yet to present its forecast for 2009, and has said it will not do so until its full-year in February.

Investors are bracing “for a significant miss of the adjusted earnings guidance of $1 to $1.40 per share it gave earlier this fall,” according to EA.

Wedbush Morgan analyst Michael Pachter said this afternoon he no longer has confidence that the publisher can reach its revenue target of $6 billion in fiscal 2011.

More in this AP piece.

By Mike Bowden

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