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Electronic Arts Announces Financial Results Above Expectations as FIFA 21 Passes 31 Million Players

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Electronic Arts Announces Financial Results Above Expectations as FIFA 21 Passes 31 Million Players

Electronic Arts released its financial results for the first quarter of the fiscal year 2022, related to the period ended on June 30, 2021.

Today Electronic Arts released its financial results for the first quarter of the fiscal year 2022, related to the period ended on June 30, 2021.

You can find a summary of the publisher’s performance in the table below.

Net revenue was $1,551 million, up year-on-year, while net income was $204 million, significantly down year-on-year.

That being said, the results are still defined “above expectations” and led Electronic Arts to raise the prediction for the full fiscal year.

The press release also includes a statement from chief executive officer Andrew Wilson, who boasted an “outstanding quarter.”

“We’ve had a very strong start to the fiscal year with our incredible teams delivering experiences that continue to bring hundreds of millions of players together.

Our new launches, leading games, and live services all had an outstanding quarter. With our expanding EA SPORTS portfolio, more amazing experiences in Apex Legends, the groundbreaking new Battlefield 2042, and our leading live services including mobile, we’re set to deliver more great games and content to players this year.”

Chief operating and financial officer Blake Jorgensen also offered a comment.

“We delivered a big beat this quarter, primarily driven by outperformance from our recent launches coupled with continued strong execution in our live services.

We’re looking forward to the launches of our sports titles this quarter and Battlefield 2042 in time for the holidays. Based on our strong performance this quarter and supported by our ongoing confidence in our live services, we are raising our outlook for the full year. Our strategic position has never been stronger, with growth drivers in place for this year, next year, and beyond.”

We then get a list of highlights of the publisher’s performance and financial metrics.

Selected Operating Highlights and Metrics

  • Net bookings for the trailing twelve months was $6.136 billion, up 3% year-over-year.
  • More than 140 million players engaged with EA SPORTS games over the trailing twelve months.
  • Over 31 million players joined FIFA 21 on console and PC since launch.
  • FIFA Ultimate Team matches are up 48% year-over-year for the quarter.
  • Season 9 for Apex Legends averaged more than 13 million weekly active players and set a new record for peak daily players across all seasons.

Selected Financial Highlights and Metrics

  • Net cash (used in)/provided by operating activities was $(143) million for the quarter and $1.413 billion for the trailing twelve months.
  • EA repurchased 2.3 million shares for $325 million during the quarter, bringing the total for the last twelve months to 7.2 million shares for $976 million.
  • EA paid a cash dividend of $0.17 per share during the quarter.

If you’d like to compare, you can check out the results for the previous quarter, which were disclosed in May.

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