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Electronic Arts heads for a spell in the red
4 Feb 2009Video games publisher Electronic Arts' third-quarter results were worse than feared and it says it is heading for a full-year loss.
It is delaying the release of some games.
EA reported a net loss of $641 million (£449 million) compared with $33 million a year ago, weighed heavily by restructuring costs.
Disappointing sales of several of its top titles, including the Need for Speed driving franchise, has led EA to cut costs and shift focus to developing what it hopes are big hits, such as its upcoming Sims 3 game and games for Nintendo's Wii systems.
“The Nintendo Wii is even more important than one year ago. It is a clear leader in this cycle,” chief executive John Riccitiello said.
“In (2008) we were number three in this platform in North America and Europe but we need to move further up on the charts.”
EA finance chief Eric Brown said the company will delay the release of Sims 3, Godfather 2 and Dragon Age until 2010.
