EA stock jumps following further restructuring plans
Publisher's share price up 11% after it announces more job cuts and closures
Investor confidence in Electronic Arts surged following the publisher's poor financial results, which were released on Tuesday and headlined with a USD 641 million loss.
The company's stock jumped by 11 per cent across the day, thanks to new cost-cutting measures which were outlined by the senior management, including additional job cuts over and above those announced late last year, and the closure of 12, mostly high-cost, facilities.
The price was up USD 1.77 to USD 17.27 in total, although after-hours trading has since seen it slip by 1.45 per cent.
The company also announced that it would trim its title portfolio to 50 titles across a variety of platforms for 2010.