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Electronic Arts downgrading financial guidance

Electronic Arts' financial outlook wasn't looking very good already. Its previous poor revenue numbers caused the publisher to make cost cutting decisions that included laying off 1,500 team members and shutting down Pandemic Studios. Now EA is warning that their just completed quarter will also be below their previous predictions.

EA s now expected to bring in between $3.6 billion to $3.675 billion in revenue for their entire 2010 fiscal year that ends on March 31 as opposed to their previous estimate of between $3.6 and $3.9 billion. EA blamed the shortfall to "weakness for EA and the overall packaged goods sector in Europe in December, and a product mix shift to lower margin distribution products in the December quarter, primarily in North America." Thankfully there doesn't appear to be any plans to lay off any more employees.


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