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Sponsored Links Electronic Arts Q3 forecast disappoints as "Medal" seen lagging Tweet Share this Email Print Related News Electronic Arts third-quarter forecast disappoints as "Medal" lags Tue, Oct 30 2012 Amazon reports first quarterly net loss in years Thu, Oct 25 2012 UPDATE 5-Potash profit off 22 pct on standoff with China, India Thu, Oct 25 2012 Zynga shores up 2012 view after revenue beat, shares jump Wed, Oct 24 2012 AT&T blames disappointing subscriber growth on iPhone Wed, Oct 24 2012 Analysis & Opinion Apple results shrink iPad miniâ€™s relevance Procter & Gamble earnings give CEO McDonald some relief Related Topics Tech » Media » Sandy in photos The aftermath of Sandy showcased in a series of large format pictures. Full Article Electronic Arts' Chief Executive Officer (CEO) John Riccitiello introduces their new lineup during the EA press conference as part E3 in Los Angeles, California June 4, 2012. Credit: Reuters/Gus Ruelas By Malathi Nayak SAN FRANCISCO | Tue Oct 30, 2012 9:16pm EDT SAN FRANCISCO (Reuters) - Video game publisher Electronic Arts Inc forecast third-quarter earnings below Wall Street targets on Tuesday after its just-released "Medal of Honor: Warfighter" title failed to wow gamers ahead of a crowded holiday season. Poor reviews for the latest installment in the first-person shooter franchise released last week and the postponement of its "NBA Live 13" will hurt current-quarter sales, analysts say. A clutch of new sports games, such as the popular "FIFA 13," did not seem able to take up the slack, they say. "Pretty disappointing near-term outlook and an unrealistic fiscal 13 guidance view from management," National Alliance Capital Markets analyst Mike Hickey said. Electronic Arts reported fiscal second-quarter earnings - excluding certain items - of 15 cents per share, beating the Street view of 11 cents per share. But the company forecast third-quarter earnings in a range of 50 cents to 60 cents, lower than the Street's view of 71 cents, according to Thomson-Reuters I/B/E/S. It said it expects fiscal year 2013 earnings between $1 and $1.15 per share versus analysts' expectations of $1.05 per share. "Our Q3 looks soft mostly due to 'Medal of Honor,'" Chief Executive John Riccitiello told analysts on a conference call. The Redwood City, California-based company launched its racing game, "Need for Speed: Most Wanted," as part of its holiday pipeline on Tuesday. Second-quarter earnings were driven largely by the success of sports titles like "Madden NFL 13," Chief Financial Officer Blake Jorgensen said in an interview. The company is optimistic that "Medal of Honor: Warfighter" and "Need for Speed" will deliver in the back half of the fiscal year, Jorgensen said. "FIFA 13" sold 7.4 million units over the four weeks since its late September launch, the company said. Jorgensen said the company's line up of sport games like "FIFA," "Madden" and its NHL hockey game "will continue to do well through the holidays." The video game industry is seeing sluggish growth in sales of traditional video games as gamers increasingly migrate to games online or on mobile devices. Electronic Arts has diversified its revenue stream by investing in digital and mobile game offerings. The company said its digital revenue was up 40 percent this quarter compared with last year. As smartphones such as Apple Inc's iPhone5 and tablets like Google's Nexus 7 hit the market this holiday, Electronic Arts will continue to produce games across multiple platforms, Jorgensen said. For the second quarter ended September 30, the company posted revenue of $711 million, compared with $715 million a year earlier. It reported a net loss of $381 million, or $1.21 cents per share, compared with $340 million, or $1.03 per share a year ago. Adjusted revenue rose about 5 percent, to $1.08 billion, from a year earlier. That was in line with analyst estimates, according to Thomson-Reuters I/B/E/S. Shares of Electronic Arts have fallen about 42 percent in the year to date. Stock markets were closed on Tuesday in the wake of Hurricane Sandy. (Reporting By Malathi Nayak; Editing by Ciro Scotti and Chris Gallagher) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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