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Weak holiday showing blasts EA's third quarter
Hurt by weak holiday sales and a slew of charges, video game publisher Electronic Arts posted a wider net loss for its fiscal third quarter and fell short of analysts' expectations Tuesday.
But the economic turmoil was not the main culprit. Chief Executive John Riccitiello said a "a significant portion" of the quarter's shortfall, as well as the company's sharply reduced outlook for the rest of the year, has to do with EA's own performance.
"Clear and simple, our titles did not perform to our expectations," Riccitiello told analysts during a conference call. EA had warned in December its holiday sales were softer than expected, even though the overall industry had a strong season.
