EA posts $1 billion loss

Written by Joe Martin

May 6, 2009 | 11:40

Tags: #loss #profit #sales

Companies: #ea #electronic-arts

Electronic Arts has just published the figures for its year-end finances and revealed that the company had a net revenue of more than USD 4.2 billion dollars, up by 15 percent compared to last year.

Unfortunately though, the mega-publisher also managed to accrue a net loss of USD 1.1 billion, which is another increase for the company. Electronic Arts only lost USD 454 million last year.

Despite trying to bring new franchises to market in the last few years, EA has struggled to find financial security in the face of the global recession and has had to close some studios and fire some staff in an effort to streamline the business.

Despite some of the hardships faced by the publisher, CEO John Riccitiello has remained optimistic and assures gamers that the company will persevere through the economic crisis successfully. Recession, says Riccitiello, is a good thing for gamers.

"EA's strong cost actions in Q4 FY09 together with our investments in our digital service businesses will set us up for a stronger" Riccitiello said to Eurogamer. "EA is well positioned with the right strategies in a growing industry."

How do you think EA will fare in the years to come? Let us know your thoughts in the forums.
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