Gamasutra reports that EA’s profits dropped 31% for its fiscal third quarter, ending December 31st 2005. This news isn’t much of a surprise though mainly because 2005 ended with news of lowered sales throughout the industry. Best Buy reported lowered game sales, Activision dropped sales forecasts, Microsoft wasn’t able to get as many 360s out in stores as it hoped, and so on.

In addition to EA’s profit drop, it announced on February 1st that it would cut about 5% of its world-wide workforce. Hopefully though the industry will pick up at the end of this year or in 2007 as the new consoles continue to release and become more readily available.

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