Business
Electronic Arts Reports Q3 FY20 Financial Results
REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its third fiscal quarter ended
About this update from Electronic Arts Inc.
[{"type":"text","content":" REDWOOD CITY, Calif.--(BUSINESS WIRE)--\nElectronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its third fiscal quarter ended December 31, 2019.\n\n\nNews and ongoing updates regarding EA and its games are available on EA’s blog at www.ea.com/news.\n\n\n“It was an excellent third quarter, with our new games and live services delighting more players around the world,” said CEO Andrew Wilson. “Our amazing creative teams at Electronic Arts continue to deliver some of the most high-quality, innovative and engaging experiences and content to a growing global audience.”\n\n\n“Over the last twelve months, we have delivered record live services revenue, live services net bookings and operating cash flow,” said COO and CFO Blake Jorgensen. “Our broad-based business model reduces our dependence on individual titles and enables us to deliver financial results for our shareholders by providing a constant stream of high-quality entertainment for our players. We expect live services to continue to drive growth in fiscal 2021 and for growth to accelerate in fiscal 2022, led by a new Battlefield.”\n\n\nSelected Operating Highlights and Metrics\n\n\n\nDigital net bookings* for the trailing twelve months was $4.128 billion, up 15% year-over-year and now represents 77% of total net bookings.\n\n\nDuring the quarter, EA launched Plants vs. Zombies: Battle for NeighborvilleTM, Need for SpeedTM Heat and Star Wars Jedi: Fallen OrderTM.\n\n\nFIFA Ultimate TeamTM matches were up nearly 40% year-over-year from launch through Q3.\n\n\nDuring the quarter, The SimsTM 4 surpassed 20 million unique players worldwide life-to-date.\n\n\n\n* Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games and mobile platform fees. \n\n\nSelected Financial Highlights and Metrics\n\n\nAll financial measures are presented on a GAAP basis.\n\n\n\nNet cash from operating activities was $1.104 billion for the quarter and a record $1.898 billion for the trailing twelve months.\n\n\nEA repurchased 3.1 million shares for $305 million during the quarter, bringing the total for the last twelve months to 12.8 million shares for $1.217 billion.\n\n\n\nQuarterly Financial High...