EA said it would delay the release of "Sims 3," "Godfather 2" and "Dragon Age" to fiscal 2010 from fiscal 2009, and that it would narrow its product portfolio and cut variable costs.
EA in December warned its fiscal 2009 profit and revenue will fall short of already-low forecasts due to disappointing holiday sales of its video games in North America and Europe.
"The quarter was definitely worse than I thought, definitely below the most pessimistic of expectations," said analyst Todd Greenwald of Signal Hill Group. "The sort of silver lining on the cloud: they gave fiscal 2010 guidance that is slightly above where I was and slightly below consensus, but I think people were fearing worse."