Ahead of the Bell: Electronic Arts

NEW YORK (AP) - A weak quarterly earnings forecast sunk shares of video game maker Electronic Arts Inc. ahead of regular trading Wednesday.

For the quarter that ends in June, Electronic Arts is projecting a loss of 35 to 40 cents, excluding unusual items, and revenue of $460 million to $500 million.

Analysts surveyed by Thomson Reuters had expected a loss of only 33 cents per share and revenue of $516.8 million.

The company's own take on what's ahead overshadowed some very good numbers for the quarter that ended in March.

The company reported after the closing bell Tuesday that strong sales of games including "Battlefield: Bad Company 2" and "Mass Effect 2" lifted the company's first-quarter net income above expectations.

In a client note, Kaufman Bros. analyst Todd Mitchell said Electronic Arts shares are still a good bet. He said the video game sector will see rising stock values as game makers shake off the recession and return to more normal earnings this year.

He kept his "Buy" rating on Electronic Arts.

The company's stock fell 92 cents, or 4.9 percent, to $17.88 in premarket trading.