EA Posts More Losses
According to a report by
Reuters, EA, like many other publishers struggling in the transition to the
"next gen" of consoles, posted significant losses this quarter.
The report states that EA "...had a fiscal first-quarter net loss of $81 million, or 26 cents, compared with a net loss of $58 million, or 19 cents, in the year-earlier quarter ended June 30. Excluding items, EA's per-share loss in the most recent quarter was 12 cents."
The loss of 26 cents a share loss was slightly more than the 24 cents a share that most analysts felt the company would drop. It has been a rough year for EA stockholders as the stock has lost approximately 20 percent of its value over the last calendar year.
8/2/2006 Aaron Thomas