EA drops fiscal year outlook

Following its announcement of NBA Jam, EA sent out another press release that's likely to elicit a much more somber "boom-shaka-laka." The mega-pubisher adjusted its estimate for earnings for both its fiscal Q3 2010 (which ended on December 31) and the full fiscal 2010 (which ends March 31). It's ... not good news.

EA reduced its net revenue for Q3 from $1.247 billion to $1.227 billion, and its fiscal 2010 expectations to between $3.6 billion and $3.675 billion, down from a range of $3.6 billion to $3.9 billion. The publisher attributed these losses to "weakness for EA and the overall packaged goods sector in Europe in December," as well as a shift in its product lineup toward lower-margin titles -- which, we assume, refers to products like the Rock Band line, which have big boxes and big music licensing payouts.

This article was originally published on Joystiq.