Electronic Arts (ERTS) Sees FY09 Sales, EPS Below Guidance
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Electronic Arts (NASDAQ: ERTS) today announced that it expects net revenue and EPS for FY09 to be below the financial guidance previously provided on October 30, 2008. The revised expectations are primarily the result of lower than expected sales across North America and Europe. The Company does not expect to provide updated financial guidance for FY09 prior to reporting its Q3 results in early February 2009.
The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for FY10 with additional associated headcount reductions and facility consolidations.
Electronic Arts, Inc. develops, markets, publishes, and distributes video game software and content in North America, Europe, and Asia.
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