World Economy

Jul 30, 2008

The value of the day on Wall Street - ELECTRONICS ARTS in the red

The value of the day on Wall Street - ELECTRONICS ARTS in the red
The Electronic Arts fall of 10.06% to 42.63 dollars after it suffered a quarterly loss exceeding expectations. This disappointment could not be offset by the publication of annual outlook in line with the consensus for the new year. In addition, the publisher of video games has given no information on its bid two billion dollars over Take-Two, publisher of the popular franchise "Grand Theft Auto." His proposal is considered inadequate by the target.

In the fourth quarter, ended in late June, Electronic Arts posted a net loss of $ 95 million, or 30 cents per share, against a loss of 132 million, or 42 cents per share, a year earlier. However, if one withdraws unusual items, the group has widened its losses. On this basis, the loss per share has reached 42 cents against a loss of 22 cents in the fourth quarter of 2007. Analysts polled by Thomson Financial did not expect that the accounts of Electronic Arts plunge in both red and aimed a loss per share of 33 cents.

The turnover was not up to expectations. It grew by 41% to 609 million dollars while the consensus was 640 million dollars. This increase in sales was made possible by the success of the games' UEFA EURO 2008, "Battlefield: Bad Company, but also" Rock Band, "said the group.

For the fiscal year just started, Electronic Arts expects earnings per share, excluding exceptional items, ranging between 1.30 and 1.70 dollars and a turnover of between 5 and 5.3 billion dollars. The group is expected to show sales growth of 24% to 32%. Analysts predict earnings per share of 1.59 dollar for sales of 5.15 billion dollars.

by erectusplus at 8:58 AM |