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Article: Electronic Arts swings to a $58 million loss
- Article from:
- AP Worldstream
- Article date:
- July 27, 2005
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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GREG SANDOVAL, AP Technology Writer
AP Worldstream
07-27-2005
Dateline: SAN JOSE, California
Electronic Arts Inc. swung to a loss in its fiscal first quarter as the world's largest video-game maker was pressured by increased competition that caused revenue to shrink 16 percent.
In its report Tuesday, the company also lowered its full-year sales and profit outlook after announcing that it would delay the release of a highly anticipated game based on the 1970s-era "The Godfather" films.
For the three months ended June 30, Electronic Arts lost $58 million (euro48.39 million), or 19 cents (16 euro cents) per share, down from a profit of $24 million, or 8 cents per share, a year ago. Excluding ...
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