Negative press is keeping EA stock down, says Riccitiello

By Patrick Garratt
10 December 2009 08:08 GMT


Know why EA’s stock‘s trading at record lows? The press did it, apparently.

“I would say the headwinds on the stock don’t make people smile. I think most people in the company read our press release on our Q2 and first half, and said, ‘Record market share, record revenues, profitability roughly in line with the street… that sounds like victory.’ A lot of negative articles were written that entirely missed the point that we felt we had a great first half,” boss John Riccitiello told IndustryGamers.

“We’re cash flow positive, we’re profitable, we’re growing, and what we’ve chosen to do is a strategic step in the process of resetting our company to a different strategy. Sometimes people almost believe more what they read in a newspaper than what they hear from their own company. A great deal of what’s written is often ill-informed and misunderstood. So it’s a hard thing for morale from time to time.”

You’re profitable? Sure?

Thanks, GoNintendo.

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