Shares in Electronic Arts fell by a further 12 per cent yesterday as investors digested the bad news that the super-publisher was revising its guidance downwards on lower-than-expected sales.
It combined with a fall the previous day to give the company a two-day loss of over 22 per cent, bringing the stock down to USD 17 and the market capitalisation down to USD 5.45 billion.
However, the price did recover slightly in after hours trading to go back up by around 2 per cent.
Yesterday CEO John Riccitiello warned investors that the company, while pleased with creativity and new IP, had seen sales fall short of expectation. Specific guidance on full year results will be announced early next year.