EA stock's trading at record lows right now, but don't blame bad decisions for it, in fact the company thinks they're doing pretty well. So who's responsibble? According to EA's boss man John Riccitiello, the negative press did it.
"I would say the headwinds on the stock don't make people smile. I think most people in our company read our press release on our Q2 and first half, and said, 'Record market share, record revenues, profitability roughly in line with the street....that sounds like victory.' A lot of negative articles were written that entirely missed the point that we felt we had a great first half," he told IndustryGamers.
"We're cash flow positive, we're profitable, we're growing, and what we've chosen to do is a strategic step in the process of resetting our company to a different strategy. Sometimes people almost believe more what they read in a news paper than what they hear from their own company. A great deal of what's written is often ill informed and misunderstood. So it's a hard thing for morale from time to time."
We're not sure what EA means by profitable, or maybe John is forgetting something?
12/10/09 Ernice Gilbert