to join the CVG community. Not a member yet? Join now!

EA announces Q3 loss

Lack of launches and the decline in boxed games to blame

EA has said that a lack of game launches and the decline in boxed product are to blame for its reported Q3 loss.

EA says the decline is due to several factors, including "fewer titles this holiday quarter versus the 2008 holiday quarter, and a weak overall packaged goods sector in Europe." The firm says sales were driven by the launches of Dragon Age: Origins, Left 4 Dead 2, and NBA Live, and catalog sales of FIFA 10, Madden NFL 10, and The Sims 3.

John Riccitiello, Chief Executive Officer, said, "EA is growing share in our packaged goods business and our digital businesses continue to grow rapidly. Mass Effect 2 is the first blockbuster of 2010 and we are looking forward to the launch of Dante's Inferno and Battlefield Bad Company 2."

Looking ahead to 2011, Eric Brown, Chief Financial Officer, added, "We are expecting an increase in FY11 full year non-GAAP earnings per share on the basis of strong cost controls and growth in our digital businesses."

Edge has got the financial information if you're into facts and figures.