Electronic Arts 2Q loss expands

AP News
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Posted: Oct 27, 2011 4:54 PM
Electronic Arts 2Q loss expands

Video game maker Electronic Arts says its second-quarter loss expanded from a year ago due to cost increases on marketing and research, even as revenue grew.

The net loss in the three month period ending on Sept. 30 grew to $340 million, or $1.03 per share. Last year, the company posted a quarterly loss of $201 million, or 61 cents per share.

Excluding stock compensation costs, acquisition expenses and other costs, adjusted earnings came to 5 cents per share.

Analysts polled by FactSet were looking for an adjusted loss of 4 cents per share.

Revenue rose 13 percent to $715 million from $631 million.

Shares closed up 11 cents at $24.50 before the results were released.