UPDATE 3-Electronic Arts posts loss, to cut jobs

* Q2 EPS ex-items 6 cents vs Street view 7 cents

* Q2 non-GAAP rev $1.15 bln vs Street view $1.14 bln

* To cut 1,500 jobs; to narrow product portfolio

* Cuts outlook for industry packaged good software sales

* Shares slip 2 pct after hours (Adds comments and details from call, updates share price)

By Gabriel Madway

SAN FRANCISCO, Nov 9 (Reuters) - Electronic Arts Inc (ERTS.O) posted a wider quarterly loss and said it would cut about 1,500 jobs, or about 17 percent of its workforce, in another round of restructuring for the video game publisher.

The company, whose shares fell 2 percent in after-hours trade, also plans to narrow its product portfolio to focus on higher margin games and said it expects to publish fewer than 40 titles next fiscal year, down from around 60 last year.

Like its rivals, EA expressed concern about the all-important holiday season, saying retailers remain cautious and consumers are not showing up consistently. EA lowered its 2009 industry outlook for packaged good software sales.