Electronic Arts Reports Q1 FY24
“EA delivered a record Q1, driven by strong momentum in EA SPORTS global football and Star Wars Jedi: Survivor,” said Andrew Wilson, CEO of EA. “Our exceptional teams are creating innovative entertainment experiences across our multi-year pipeline, starting with the highly anticipated, culture defining titles Madden NFL 24 and EA SPORTS FC 24.” “We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition,” said Stuart Canfield, CFO of EA.
“Looking ahead, our teams remain focused on delivering long-term growth and profitability.”
Selected Operating Highlights and Metrics1
• Net bookings2 for Q1 was $1.578 billion, up 21% year-over-year (up 25% in constant currency).
• Live services and other net bookings for Q1 was $1.177 billion, up 4% year-over-year (up 7% in constant currency) and represented 75% of total net bookings.
• Our teams continue to execute across the business — launching five new high-quality releases, while providing over 145 content updates across 37 titles during the quarter.
• EA SPORTS FIFA net bookings growth accelerated year over year, delivering a record Q1 for the franchise, and further demonstrating the power and potential of a connected massive online community.
• Star Wars Jedi: Survivor launched to critical acclaim and commercial success. The game is entertaining millions of players around the world, and with multiple “best of 2023” list accolades, and a blockbuster story, we’re seeing players spend more time in-game than its predecessor.
Selected Financial Highlights and Metrics
• Net revenue was $1.924 billion for the quarter. 2 • Net cash provided by operating activities was $359 million for the quarter and $1.987 billion for the trailing twelve months.
• EA repurchased 2.6 million shares for $325 million during the quarter, bringing the total for the trailing twelve months to 10.5 million shares for $1.300 billion.
Dividend EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on September 20, 2023 to shareholders of record as of the close of business on August 30, 2023.
