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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

October 30, 2008 at 3:08 PM

EA cuts outlook, staff: So much for games being recession proof?

Electronic Arts, the Redwood City, Calif.-based game giant, is laying off 6 percent of its staff to shore up earnings, which are taking a hit from the downturn.

“Rock Band” and “Madden” sold well and EA held its sales forecast, but slashed its profit outlook. Instead of earning $1.30 to $1.70 per share, it’s expecting $1 to $1.40.

From Bloomberg’s report:

Retailers are seeing a decline in foot traffic, Chief Financial Officer Eric Brown said in an interview. Shelf space for video games is increasing at key stores, he said.

“We’re performing at or better than the overall industry so we’re taking share,” Brown said. “We’ve adjusted as we think necessary.”

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