There has never been any doubt that the boys of Bad Company were scheduled to return to the battlefield. The game sold well, the foundations were there, and after the exhausting work on the Frostbite Engine it would seem a given that a sequel had to be made. And it was meant to be revealed to the press in London last Monday, but well a bit of snow put a stop to that. However during the very informative conference call John Riccitello confirmed that Bad Company 2 will hit late this fiscal year.
In related DICE news it was confirmed that Mirror's Edge had sold a million units. Sadly there is no news about Battlefield 3 on PC yet...