News Burst: Eidos losses widen

Revenues of 'Tomb Raider' maker down on slower release schedule, investments

UK games developer and publisher Eidos (EID: quote )Wednesday announced wider losses in its first-half earnings.

Revenues for the half year ending 30 September were £44.1m, compared to £47.6m for the corresponding period last year. In this half the company lost £27.1m, or a loss per share of 147.0p, compared to a net loss of £11.8m and a loss per share of 69.1p in the corresponding period last year.

In a statement Eidos chairman Ian Livingstone chalked the losses up to a slow period in games releases and "a number of strategic investments... including equity stakes in Pyro Studios, Proein, Elixir Studios and Timeline Studios".

Full story to follow.

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