Electronic Arts Reports Q3 FY23 Financial Results (2024)

REDWOOD CITY, CA – January 31, 2023 – Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its third fiscal quarter ended December 31, 2022.

“In Q3, EA delivered high-quality experiences, driving record engagement across some of our biggest franchises and growing our player network. While our teams delivered for our players, the current macro environment impacted Q3 results,” said Andrew Wilson, CEO of Electronic Arts. “As we navigate the short-term, we're focused on building for the long-term and remain confident about our future. With amazing talent, proven IP and growing player network, EA is operating from a position of strength.”

“As market uncertainty mounted during the quarter, we took measures to protect underlying profitability,” said Chris Suh, CFO. “We are prioritizing the player experience, directing investment to where it can have the most positive impact for our players and on growth.”

Selected Operating Highlights and Metrics

  • Net bookings1 for the trailing twelve months was $7.146 billion, down 1% year-over-year.
  • Live services and other net bookings for the trailing twelve months were up 4% year-over-year and represent 75% of total net bookings.
  • The EA player network grew to more than 650 million at quarter end.
  • EA SPORTS FIFA 23 is pacing to be the biggest title in franchise history and delivered record engagement in Q3.
  • Our teams delivered two AAA titles, NHL 23 and Need for Speed Unbound, at quality, and provided 128 content updates across 36 titles.
  • The Sims welcomed over 10 million new players into the community during the quarter, with daily active users, weekly active users and monthly active users all up double digits year-over-year.

Selected Financial Highlights and Metrics

  • Net cash provided by operating activities was $1.123 billion for the quarter and $1.377billion 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 10.2 million shares for $1.295 billion.
  • EA paid a cash dividend of $0.19 per share during the quarter, for a total of $52 million.


EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on March 22, 2023 to shareholders of record as of the close of business on March 1, 2023.

Quarterly Financial Highlights

Conference Call and Supporting Documents

Electronic Arts will host a conference call on January 31, 2023 at 2:00 pm PT (5:00 pm ET) to review its results for the third quarter ended December 31, 2022 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (888) 330-2446 (domestic) or (240) 789-2732 (international), using the conference code 5939891 or via webcast at EA’s IR Website at http://ir.ea.com.

EA has posted a slide presentation with a financial model of EA’s historical results and guidance on EA’s IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR Website.

A dial-in replay of the conference call will be available until February 15, 2023 at (800) 770-2030 (domestic) or (647) 362-9199 (international) using pin code 5939891. An audio webcast replay of the conference call will be available for one year on EA’s IR Website.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA’s expectations under the heading “Business Outlook as of January 31, 2023” and other information regarding EA's expectations contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements.

Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: sales of the Company’s products and services; the Company’s ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company’s sales and marketing programs; timely development and release of the Company’s products and services; the Company’s ability to realize the anticipated benefits of, and integrate, acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; economic and geopolitical conditions; changes in our tax rates or tax laws; and other factors described in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2022.

These forward-looking statements are current as of January 31, 2023. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts.

While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2022. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended December 31, 2022.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2022, EA posted GAAP net revenue of approximately $7 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news.

EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2015 Lucasfilm Ltd. All rights reserved. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission.

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As a seasoned expert in the gaming industry, I bring forth a wealth of knowledge and experience in analyzing and interpreting financial results of major gaming corporations. With a keen eye for industry trends and an understanding of financial metrics, I will dissect the key concepts presented in the article regarding Electronic Arts Inc.'s (EA) preliminary financial results for its third fiscal quarter ended December 31, 2022.

1. Net Bookings:

  • EA reported net bookings for the trailing twelve months at $7.146 billion, a slight decrease of 1% year-over-year. Net bookings are a crucial financial metric that includes sales of digital and physical products, in-game purchases, and other revenue sources.

2. Live Services and Other Net Bookings:

  • Live services and other net bookings for the trailing twelve months increased by 4% year-over-year, constituting 75% of total net bookings. This highlights the growing importance of ongoing player engagement and in-game monetization for EA.

3. Player Network Growth:

  • The EA player network expanded to more than 650 million at the end of the quarter, indicating a substantial and active player base. A robust player network is a key asset for game publishers as it contributes to sustained revenue through ongoing engagement.

4. Game Highlights:

  • FIFA 23, part of the EA SPORTS franchise, is on track to become the biggest title in franchise history. This success underscores the enduring popularity and market strength of the FIFA series.
  • EA released two AAA titles, NHL 23 and Need for Speed Unbound, during the quarter, demonstrating the company's commitment to delivering high-quality gaming experiences.

5. Community Engagement:

  • The Sims welcomed over 10 million new players during the quarter, with double-digit growth in daily, weekly, and monthly active users year-over-year. This points to the sustained appeal and community-building aspects of The Sims franchise.

6. Financial Metrics:

  • Net cash provided by operating activities for the quarter was $1.123 billion, and $1.377 billion for the trailing twelve months, reflecting strong financial performance.
  • EA repurchased shares and paid a cash dividend of $0.19 per share during the quarter, showcasing the company's commitment to returning value to shareholders.

7. Forward-Looking Statements:

  • EA provided forward-looking statements, expressing confidence in its future despite short-term challenges. These statements are accompanied by a disclaimer acknowledging the dynamic nature of the gaming industry and external factors that may impact results.

In conclusion, Electronic Arts Inc.'s financial results reflect a dynamic gaming landscape, where player engagement, live services, and strategic game releases play pivotal roles in financial success. The company's focus on long-term growth, combined with its iconic franchises, positions EA as a major player in the digital interactive entertainment industry. The upcoming conference call and supporting documents will likely provide further insights into EA's strategies and outlook for the future.

Electronic Arts Reports Q3 FY23 Financial Results (2024)
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