From Edge Online:

EA has announced that it made a loss during its third quarter ended December 31, 2009 blaming a lack of launches and the decline in boxed product.

GAAP [Generally Accepted Accounting Principles ] net revenue for the quarter was $1.243 billion compared with $1.654 billion for the prior year. Non-GAAP net revenue for the quarter was $1.346 billion, down 23 per cent as compared with $1.742 billion for the prior year. GAAP net loss for the quarter was $82 million compared with a net loss of $641 million for the prior year.

EA says the decline is due to several factors, including “fewer titles this holiday quarter versus the 2008 holiday quarter, and a weak overall packaged goods sector in Europe.” The firm says sales were driven by the launches of Dragon Age: Origins, Left 4 Dead 2, and NBA Live, and catalog sales of FIFA 10, Madden NFL 10, and The Sims 3.

John Riccitiello, Chief Executive Officer, said, “EA is growing share in our packaged goods business and our digital businesses continue to grow rapidly. Mass Effect 2 is the first blockbuster of 2010 and we are looking forward to the launch of Dante’s Inferno and Battlefield Bad Company 2."  […]

Read the full article on Edge Online…

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Tags: 2009, digital, ea, fifa, John Riccitiello, loss, mass effect 2