EA did away with almost 350 employees yesterday just before it was to announce its Q3 results. Everyone was anticipating that the reason behind this was that EA didn't achieve targeted margins.
This showed today when EA announced its financials for Q3. It said that its profits dropped in the period by a whopping 31 percent. EA reported income at only 259 million dollars as compared to 375 million in the same quarter last year.
However, notwithstanding the results, quite a few of its games went on to become genuine hits like:
a) Need for Speed Most Wanted sold 7 million + copies.
b) FIFA 06, Harry Potter and the Goblet of Fire, The Sims 2 and Madden NFL 06 recorded sales of 2 million + copies each.
c) NBA Live 06, SSX On Tour, Tiger PGA TOUR 06, From Russia with Love, and Battlefield 2: Modern Combat each surpassed the one-million mark.
As far as the layoff is concerned, EA said 'were unrelated to holiday sales but has to do something with realigning the company's resources as it grapples with the transition from current-generation to next-generation consoles'.
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