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Industry News
Market Research IndustryWatch as this Market Leader Regains its MojoFor many years, there were two camps in the video game world: Electronic Arts (Nasdaq: ERTS), and everyone else. The company's annual sales grew so large that they equaled the revenue base of the next three public players -- combined.But corporate bloat set in, and Electronic Arts lost its mojo. Sales, which were already challenged by secular headwinds, fell even faster than at key rivals, leading to eroding market share. New management took the helm more than two years ago, and as Electronic Arts continued to struggle, investors lost hope that a turnaround could be implemented. It may have taken awhile, but that turnaround is now at hand.Electronic Arts lost boatloads of money in fiscal 2008 and again in fiscal 2009. In order to right the ship, management first needed to sharply shrink costs to at least generate break-even results. Mission accomplished: General & Administrative expenses fell roughly -8% in the just ended fiscal year, while R&D spending fell by nearly $200 million from a year ago.
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