Electronic Arts third-quarter forecast disappoints as "Medal" lags
SAN FRANCISCO (Reuters) - Video game publisher Electronic Arts Inc forecast third-quarter earnings below Wall Street targets on Tuesday after its "Medal of Honor: Warfighter" title fell short of expectations for a crowded holiday season.
The company reported fiscal second-quarter earnings - excluding certain items - of 15 cents per share, beating the Street view of 11 cents per share as cost cuts took effect.
But it forecast third-quarter earnings in the range of 50 cents to 60 cents, lower than the Street's view of 71 cents, according to Thomson-Reuters I/B/E/S.
"Our Q3 looks soft mostly due to 'Medal of Honor,'" CEO John Riccitiello said on a call with analysts.
For the three months ended September 30, the company posted revenue of $711 million, compared with $715 million a year ago. It reported a net loss of $381 million, or $1.21 cents per share, compared with $340 million, or $1.03 per share a year ago.
Adjusted revenue rose about 5 percent, to $1.08 billion, from a year ago. That was in line with analyst estimates, according to Thomson-Reuters I/B/E/S.
(Reporting By Malathi Nayak; Editing by Ciro Scotti)
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