Electronic Arts Posts Loss but Record Revenue
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Electronic Arts swung to a loss because of restructuring charges and deferred revenue, but posted record revenue during the most brisk holiday season the video game industry has seen.
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By ZINIE CHEN SAMPSON  RICHMOND, Va. - Electronics retailer Circuit City Stores Inc. said Wednesday it lost $54.6 million in the first fiscal quarter - when it cut jobs to reduce costs and restructured to fend off competition - and withdrew its earnings guidance for 2008.
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Electronic Arts, a maker of video games, said that it bought 19.9 percent of a French competitor, Ubisoft Entertainment.
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SAN FRANCISCO &#151; Electronic Arts Inc. said Thursday that sales of its latest "Madden" football video game grossed more than $100 million in its first week, the biggest launch in the franchise's 17-year history and the latest sign of an improving outlook for the industry.
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RICHMOND, June 20 -- Electronics retailer Circuit City, which earlier this year cut jobs and restructured in an effort to keep up with competitors, reported a $54.6 million quarterly loss Wednesday and withdrew its financial guidance for fiscal 2008.
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AMD reported a heavy loss for its fourth quarter on Thursday, due mostly to charges connected to its acquisition of graphics chip maker ATI.AMD reported a net loss of $1.772 billion -- greater than its revenue for the quarter, which was $1.770 billion. The figures compare to a loss in the fourth quarter last year of $576 million on revenue of $1.773 million.The net loss included charges of $1.675 billion, mostly related to&#160;AMD&#39;s acquisition of ATI in 2006. Excluding the charges, AMD said its loss would have been $97 million, greater than the $25 million it lost in the fourth quarter a year earlier.This is the fifth-straight quarterly loss for AMD, which has been struggling to get its newest processors to market on time.AMD delayed volume shipments of its quad-core Opteron processors, code-named Barcelona, in early December when it said it found a bug in the chip&#39;s Level 3 cache memory. Earlier this month,&#160;AMD said it was pushing back the release of its quad-core Phenom 9700 and 9900 processors.The company still managed to ship a record number of microprocessors in the quarter, it said on Thursday, including nearly 400,000 of its quad-core chips.
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Despite another money-losing quarter, the future of the video game publisher looks bright.
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Withdraws guidance for 2007 Circuit City had a crap first quarter, losing $54.6m, against net income of $6.4m same time last year. Net sales fell 4.3 per cent, driven by a comparable store sales decline of 5.6 per cent. Gross profit margins fell 1.9 per cent on lower merchandise margins and lower take-up of extended warranties.â¦
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EBay Inc said on Wednesday it had  a strong quarterly performance in auctions, masked by a big net  loss due to a write-down, and that its full-year earnings would  be at the top end of expectations.
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Top video game publisher Electronic Arts Inc  lowered its profit forecast on Thursday as it delayed "Mercenaries 2" and a new "Battlefield" title, sending its shares down 6 percent.
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SAN FRANCISCO -- Shares of Electronic Arts Inc. rose more than 6 percent Friday, after adjusted fourth-quarter earnings exceeded Wall Street's expectations. But financial analysts wondered whether the world's biggest video game publisher was becoming overvalued.
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TOKYO -- Just when Sony appears to have turned around its electronics business, another part of its sprawling empire _ video games _ is dragging down profits.
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Electronic Data Systems Corp. EDS.N,  the world's second-largest technology services provider, on  Monday posted a higher-than-expected quarterly profit thanks to  cost cutting, but revenue fell and it forecast 2005 earnings  would fall short of Wall Street estimates.
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Video games with online  components bring in more than twice the revenue as those played  offline, a research firm said in a report to be published on  Thursday.
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By Bloomberg News. Electronic Arts, a maker of video games, said yesterday that it bought 19.9 percent of a French competitor, Ubisoft Entertainment, the maker of games based on Tom Clancy novels.
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Electronic Arts cuts prices on key sports titles, showing some vulnerability.
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The electronics retailer reported a $54.6 million first-quarter loss and withdrew its financial guidance for fiscal 2008 as it cut jobs and revamped.