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Electronic Arts posts smaller loss, misses targets


ASSOCIATED PRESS

1:20 p.m. July 29, 2008

NEW YORK – Video game publisher Electronic Arts says its net loss narrowed in its fiscal first quarter and revenue more than doubled. But both figures fell short of analyst estimates.

Electronic Arts Inc. said Tuesday its loss for the quarter ended June 30 totaled $95 million, or 30 cents per share, compared with a loss of $132 million, or 42 cents a share, a year earlier.

On an adjusted basis, the company says it lost 42 cents per share this quarter. Analysts had expected the loss to be 33 cents per share, according to Thomson Financial.

EA's sales jumped to $804 million, from $395 million. But they were boosted by the recognition of deferred revenue for certain online games. Without this benefit, sales totaled $609 million, short of Wall Street's expectations of $640 million.


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