EA lowers revenue projections

EA lowers revenue projections
Michael French

By Michael French

January 12th 2010 at 10:11AM

'Soft' December in Europe and lower shipments in North America dent full-year earnings

Electronic Arts last night announced it is down-grading projections for both full year revenues and trading during the Christmas season.

The firm has lowered its yearly guidance from $3.6bn-$3.9bn down to $3.6bn-$3.675bn.

CEO John Riccitiello blamed two factors for the drop: a "soft December for EA and packaged good sector in Europe" and lower shipments of titles in North America.

In a conference call detailing the new projections, the firm said it was expecting the market to remain flat in the last three months - but instead "packaged goods sales were down as much as 15 per cent in some counties".

The full report can be found over at MCV.