Electronic Arts (EA) Posts $641 Million Loss in Third Quarter, And Cuts 1100 Jobs.

d Electronic Arts posted a $641 million net loss for its most recent quarter, compared to a $33 million net loss over the same period a year ago. EA was in the midst of restructuring, so it profited 56 cents per share before the costs of restructuring are factored in to the accounting.

Revenue for the quarter was $1.65 billion, up from $1.5 billion in the previous quarter but below analyst estimates of $1.9 billion.

The company will cut staff at all levels, according to EA execs, including “managers, directors, VPs and above” and put a freeze on raises. Around 1,100 jobs will be lost, around 11% of its work force. It will also cut 30% of its SKUS in 2010, expecting to publish 50 titles across 125 SKUS. The company published 145 SKUs in fiscal 2009. >>More