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Electronic Arts Falling Revenues Result in Layoffs

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By Douglas A. McIntyre Published
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Electronic Arts Inc. (NASDAQ: EA), which recently dumped its chief executive officer, has decided to cut a large number of workers as well.

EA has been unable to make the transition from a company that makes games for old-style consoles to one that makes versions for the growing portable device market, although it has tried. In the fourth quarter of last year, EA revenue fell from $1.06 billion in the period a year ago to $922 million. EA lost $45 million. Mobile revenue was only $86 million.

EA’s layoff announcement said:

In recent weeks, EA has aligned all elements of its organizational structure behind priorities in new technologies and mobile. This has led to some difficult decisions to reduce the workforce in some locations. We are extremely grateful for the contributions made by each of our employees — those that are leaving EA will be missed by their colleagues and friends.

These are hard but essential changes as we focus on delivering great games and showing players around the world why to spend their time with us.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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