EA Post Loss, Close Studios
If it wasn't for those pesky Americans selling houses to people who would never pay it back...
Published: 8:50, 04/02/2009 by Staff.
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79You’ve got to feel sorry for EA, they’re one of our favourite publishers here at TSA, with some stellar games, but even they’re struggling in the current financial climate, according to Reuters. Apparently the software giant has posted a Q3 loss of $641 million, with shares down $2 each, forcing 1,100 job cuts across 11 studios, delays of some key titles and a “narrowed” portfolio in the future.
EA, who publish massively popular franchises like Need for Speed and Madden NFL (13 of EA’s games averaged 80% or above on popular review aggregate sites) and enjoy a 20% share in the US videogame market did however post encouraging 2010 earnings, which pushed shares back up 6.7% yesterday. FIFA 09 was EA’s best selling title with nearly 8 million copies sold across all formats. Need for Speed Undercover, despite not being great, sold 5.2 million.
Lets hope EA’s AAA titles due out this year help their recovery.
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