North America’s largest game-maker, Electronic Arts, announced today Q3 2010 financial earnings, posting a significant $82-million ($0.25 per share) loss. The loss compares to a $641-million loss in the same period last year.

The company missed Wall Street expectations by reporting total revenue for the quarter at $1.243-billion, compared to $1.654-billion in Q3 2009, a year ago.

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The popular video game maker, Electronic Arts (EA), has confirmed rumors that it would acquire the online game maker Playfish for a reported amount of up to $400 million.

Right now, EA is set to pay $275 million in cash for the company, in addition to $25 million in equity. EA has added performance covenants through December 31, 2011, were assuming Playfish continues to grow, EA will pay up to $400 million for the company.

The acquisition will help propel EA into the online social gaming realm.

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