Vivendi Universal Earnings Announcement.Synopsis: earnings sucked.
This is no surprise. The only surprise is that they didn't lose MORE than 156 million Euros in their last fiscal quarter.
I know that I've been hammering this theme, but here it comes one more time: the game industry has entered a period of very, very painful consolidation. The industry expanded disproportionately to what could be supported over the long-term, and the shakeout next year will involve many companies closing their doors. The companies that do surive will be forced to reduce their headcount and expenses significantly. I don't expect any of the big publishers, even Electronic Arts, to make money next year.