Despite posting strong results in game sales, this was not enough to prevent the outlook for the video game developer and publisher Electronic Arts being lower than first expected.
EA has quite a portfolio of titles when it comes to games and has still made a profit this quarter thanks to a high demand for new titles such as the sequels Mass Effect 2 and Battlefield: Bad Company 2. However, shares in the company slumped by 4.2 percent to $18.01 following after hours trading.
The leading games company had announced that its revenue had risen from $860million to $979million, a change of 14 percent, surpassing the expectations of Wall Street. But this rise obviously was not enough for traders who were concerned at the earnings forecast for EA.
EA has made its name in the release of its popular FIFA football games, long-running titles like Medal of Honor, Need for Speed, The Sims and more recently Rock Band. The international games pioneer offers titles across all formats including PCs, Xbox 360 and PlayStation 3.
The company has found the going tougher over the past few years as it attempts to focus on the lucrative online games markets and is also keen to include downloadable content within its video game releases.