Electronic Arts loss wider than expected

Tue Jul 29, 2008 9:43pm BST
 
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LOS ANGELES (Reuters) - Video game maker Electronic Arts Inc (ERTS.O) posted a larger-than-expected quarterly loss on Tuesday and its shares fell nearly 3 percent.

The net loss was $95 million, or 30 cents a share, compared with a year-ago loss of $132 million, or 42 cents a share, it said.

The Redwood City, California-based company posted an adjusted loss of 42 cents per share, worse than Wall Street's average target of a 35 cent loss, according to Reuters Estimates.

Net revenue rose to $804 million from $395 million a year ago.

Shares of EA fell 2.7 percent in after-hours trade to $46.10 from a Nasdaq close of $47.40.

(Reporting by Jennifer Martinez; Editing by Braden Reddall)

 
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