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Eidos Issues Profit Warning...Shares Crash

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Posted by Allison on May 21, 2004 11:03 AM
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Eidos
Today is proving to be an ugly day for our friends over at Eidos Interactive (Tomb Raider, Hitman), as Eidos shares crashed 32% after they issued a profit warning yesterday. It seems that, despite the "Hitman: Contracts" April success, Eidos is going to fall drastically short of their $16 million re-order target, shipping out only 1.5 million copies, instead of the expected 2.2 million.

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The drop in the company's share price has fuelled speculation of a buyout. According to GamesIndustry.biz the buyout rumor surfaced earlier this week as "reports in the business press linked Electronic Arts, Ubisoft and Activision to the company". However, as of yesterday, Eidos announced that they have not been approached by any one of these companies regarding the acquisition bid. Of course, it was only seconds later that Eidos announced they would be shipping out 700,000 fewer copies of "Hitman: Contracts" than previously expected.

We'll be sure to let you know how this all turns out...









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