TITLE

EA Loses Big, Lays Off 600

AUTHOR(S)
Lee, Michael
PUB. DATE
October 2008
SOURCE
Red Herring;10/30/2008, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the earnings of video game company Electronic Arts (EA) fell short of analyst expectations, sending shares 14 percent lower in after hours. EA reported a net loss of $310 million, or $0.97 per share, on revenue of $894 million for the second quarter of 2008, compared with a net loss of $195 million, or $0.62 per share, on revenue of $640 million in the same period a year ago. The company also said it plans to lay off 600 employees to cut costs.
ACCESSION #
36603085

 

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