EA misses revenue estimates, but remains optimistic in Q1

Newsbrief: Major game publisher Electronic Arts fell short of its revenue estimates for its fiscal first quarter, though the company believes that things are looking up despite its financial hiccups. For the quarter ended June 30, 2012, EA saw revenues of $491 million, and suffered an overall loss of $130 million. That's compared to the $524 million in revenues and the $124 million in losses the company saw during this period last year. On average, analysts expected EA to pull in at least $500 million, but that didn't seem to sour investors, as the company's share price rose roughly 3 percent in after hours trading. EA, too, assured investors that it sees good things on the horizon, and even announced that it plans to repurchase $500 million of its own shares. Alongside these figures, EA also revealed that its flagship MMO, Star Wars: The Old Republic will go free to play this November.