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‘Grand Theft Auto' videogame maker axing 600 jobs, scrapping projects [Yahoo! Finance]

Electronic Arts Inc. (EA)  More Company Research Source: Yahoo! Finance
Last electronic arts inc. earnings: 1/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ea.com
said Tuesday, as the video-gaming industry extends its more than two-year long job cuts The company will also scrap several projects in development as part of a cost-reduction plan, which is expected to result in total charges of up to $200 million. It declined to name the projects that have been canceled. Take-Two said the move is expected to drive more than $165 million of annual cost savings. The company's shares were 1% higher in extended trading. They have fallen nearly 10% so far this year. The move aligns Take-Two with Tencent-owned Riot Games, Electronic Arts and Japan's Sony in trimming workforce this year due to uncertain spending from consumers after the pandemic-era boom PC and console gaming revenue growth is expected to remain below pre-pandemic levels through 2026 as gamers record fewer hours of playtime, according to research firm Newzoo. Canceled projects will account for as much as $140 million of the total charges, while severance and employee-related [Read more]
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Stockreport

‘Grand Theft Auto' videogame maker axing 600 jobs, scrapping projects [Yahoo! Finance]

Electronic Arts Inc.  (EA) 
More Company Research Source: Yahoo! Finance
Last electronic arts inc. earnings: 1/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ea.com
said Tuesday, as the video-gaming industry extends its more than two-year long job cuts The company will also scrap several projects in development as part of a cost-reduction plan, which is expected to result in total charges of up to $200 million. It declined to name the projects that have been canceled. Take-Two said the move is expected to drive more than $165 million of annual cost savings. The company's shares were 1% higher in extended trading. They have fallen nearly 10% so far this year. The move aligns Take-Two with Tencent-owned Riot Games, Electronic Arts and Japan's Sony in trimming workforce this year due to uncertain spending from consumers after the pandemic-era boom PC and console gaming revenue growth is expected to remain below pre-pandemic levels through 2026 as gamers record fewer hours of playtime, according to research firm Newzoo. Canceled projects will account for as much as $140 million of the total charges, while severance and employee-related [Read more]
IMPACT SNAPSHOT
EVENT TIME:
EA
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS