Despite job layoffs and other cost cuts, Electronic Arts is still struggling to dig out of its current financial hole.
The game maker reported Monday that its fiscal third-quarter net loss narrowed to $82 million, down from a loss of $641 million in the year-ago quarter. Its quarter ended December 31.
EA was on a tear last year to slash expenses--laying off staff, closing down studios, and trimming its product line. But sluggish game sales, especially in Europe, took their toll on fiscal third-quarter revenue, which fell 25 percent to $1.24 billion from $1.65 billion in the year-ago … Read more