DP ServBot
10-30-2008, 07:10 PM
Filed under: Business (http://www.joystiq.com/category/business/)
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Electronic Arts has revealed (http://investor.ea.com/common/download/download.cfm?CompanyID=ERTS&FileID=245319&FileKey=f0a58760-2c38-408f-8779-2782cf681255&filename=Q209%20ER_10.30_10am.pdf) its second quarter fiscal results (ending Sept. 30) ... and things aren't pretty. The company lost $310 million in the quarter, another big hit following Q1's $95 million loss (http://www.joystiq.com/2008/07/29/eas-fiscal-q108-conference-call-at-a-glance/). Highlights from the quarter were the sales of Madden NFL 09 (http://joystiq.com/tag/madden-09) (4.5 million sold), Spore (http://joystiq.com/tag/spore) (2 million sold) and Warhammer Online (http://joystiq.com/tag/warhammer-online) (1.2 million sold).
Unfortunately, EA's continuing (http://www.joystiq.com/2008/05/13/ea-records-454-million-loss-despite-sales-of-3-6-billion-in-l/) hard times will impact its employees. The company plans to let go of 6% of its work force, which amounts to about 600 jobs (http://www.gamasutra.com/php-bin/news_index.php?story=20893). The next two quarters are when EA normally really starts bringing in the cash -- not that it'll mean much to those who'll be unemployed soon.
[Via GameDaily (http://www.gamedaily.com/articles/news/ea-posts-310-million-loss-in-q2-plans-to-cut-6-of-workforce/?biz=1)]http://www.joystiq.com/media/feedlogo.gif (http://www.joystiq.com)EA loses $310 million in Q209, 6% of employees being let go (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/) originally appeared on Joystiq (http://www.joystiq.com) on Thu, 30 Oct 2008 18:00:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Read | Permalink (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/) | Email this (http://www.joystiq.com/forward/1358054/) | Comments (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/#comments)
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http://www.blogcdn.com/www.joystiq.com/media/2008/10/ealogolustermain.jpg (http://investor.ea.com/common/download/download.cfm?CompanyID=ERTS&FileID=245319&FileKey=f0a58760-2c38-408f-8779-2782cf681255&filename=Q209%20ER_10.30_10am.pdf)
Electronic Arts has revealed (http://investor.ea.com/common/download/download.cfm?CompanyID=ERTS&FileID=245319&FileKey=f0a58760-2c38-408f-8779-2782cf681255&filename=Q209%20ER_10.30_10am.pdf) its second quarter fiscal results (ending Sept. 30) ... and things aren't pretty. The company lost $310 million in the quarter, another big hit following Q1's $95 million loss (http://www.joystiq.com/2008/07/29/eas-fiscal-q108-conference-call-at-a-glance/). Highlights from the quarter were the sales of Madden NFL 09 (http://joystiq.com/tag/madden-09) (4.5 million sold), Spore (http://joystiq.com/tag/spore) (2 million sold) and Warhammer Online (http://joystiq.com/tag/warhammer-online) (1.2 million sold).
Unfortunately, EA's continuing (http://www.joystiq.com/2008/05/13/ea-records-454-million-loss-despite-sales-of-3-6-billion-in-l/) hard times will impact its employees. The company plans to let go of 6% of its work force, which amounts to about 600 jobs (http://www.gamasutra.com/php-bin/news_index.php?story=20893). The next two quarters are when EA normally really starts bringing in the cash -- not that it'll mean much to those who'll be unemployed soon.
[Via GameDaily (http://www.gamedaily.com/articles/news/ea-posts-310-million-loss-in-q2-plans-to-cut-6-of-workforce/?biz=1)]http://www.joystiq.com/media/feedlogo.gif (http://www.joystiq.com)EA loses $310 million in Q209, 6% of employees being let go (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/) originally appeared on Joystiq (http://www.joystiq.com) on Thu, 30 Oct 2008 18:00:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Read | Permalink (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/) | Email this (http://www.joystiq.com/forward/1358054/) | Comments (http://www.joystiq.com/2008/10/30/ea-loses-310-million-in-q209-6-of-employees-being-let-go/#comments)
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