Ouch. That's gotta sting.

If you ever wondered why EA was tightening their belt and laying-off workers, this is about as good an indication as any. According to IGN, EA lost $33 million in the third fiscal quarter despite the company's revenue hitting the $1.5 billion mark. Here's a small blurb:

"This was a record revenue quarter for EA and the single biggest revenue quarter for any third party publisher in our industry," said EA CEO John Riccitiello. "While we are disappointed that two titles slipped out of the March quarter, Burnout Paradise is off to a terrific start and we are looking forward to the upcoming launches of Army of Two and FIFA Street 3."

I'm sure EA is hoping that the two MMOGs that they're currently working with will help alleviate some of the issues the company has been having as of late. Read the full article over at IGN.com.