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Electronic Arts Inc. (ERTS) was down in the after-hours session by over 9% on the heels of the gaming publisher's Q3 report. Non-GAAP sales were off by over 20%. Adjusted income came in at 33 cents per share. This was two cents higher than expectations according to my earnings preview, but a lot less than the 56 cents per share earned in the comparable frame.
The press release mentions the lower quantity of titles released during the holiday season as being a driver of the decline in revenue (a tough European market was also cited). That may be, but it doesn't absolve EA of its fundamental challenges.
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