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Tuesday, May 13, 2008
Electronics Arts Posts Loss
FOXBusiness
Electronics Arts, the world’s largest video game maker, posted a wider-than-expected loss Tuesday because of increased restructuring charges.
Electronic Arts (ERTS) said it had a net loss of $94 million, or 30 cents a share, compared with a loss of $25 million, or 8 cents a share, from a year ago. However, revenue for the video game giant surged 84% to $1.13 billion.
Analysts interviewed by Thomson Reuters were expecting the company to break even for this quarter on revenue of $835 million.
EA made a $2 billion bid for Take-Two Interactive (TTWO), maker of the "Grand Theft Auto" game series, for $2.1 billion. Take-Two declined the offer, saying that EA’s offer was too low.
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