Electronic Arts posts smaller loss, outlook poor
Electronic Arts Inc. is showing a smaller net loss in its last quarter even though its video game sales declined.
On an adjusted basis, the publisher of games like "Madden" earned a profit slightly above analysts' muted expectations. But the company's profit and revenue forecasts were below expectations and EA shares slipped in after-hours trading Monday.
Electronic Arts posted a net loss of $82 milllion, 20 cents per share, for the October-December period. In the same period a year earlier it lost $641 million, $2 per share.
Revenue fell 25 percent to $1.24 billion.