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Electronic Arts Posts Larger Second Quarter Loss

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Oct 30, 2008 1:43 pm US/Pacific

Electronic Arts Posts Larger Second Quarter Loss

 Electronic Arts: Latest Quote & News

REDWOOD CITY (AP) ― Video game publisher Electronic Arts Inc. says its second-quarter net loss widened as development and marketing costs grew. But revenue surpassed Wall Street's forecast thanks to games like "Spore" and "Madden NFL 09."

EA also lowered its full-year profit outlook range, though it kept its revenue forecast intact.

Redwood City-based Electronic Arts said Thursday it lost $310 million, or 97 cents per share, in the July-September period. That was worse than the loss of $195 million, or 62 cents per share, a year earlier.

EA's sales jumped 40 percent to $894 million.

Excluding one-time items, EA says it lost 6 cents a share in the
latest quarter, matching the expectation of analysts polled by Thomson Reuters.

Adjusted sales, which exclude deferred revenue for some online games, were $1.13 billion, beating expectations for $1.08 billion.

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