Press release
Electronic Arts Reports Q4 and FY23 Results
Record Q4 net bookings driven by all-time high EA SPORTS FIFA franchise performance; Company carries strong momentum into brand launch of EA SPORTS FC
About this update from Electronic Arts Inc.
[{"type":"text","content":"\nRecord Q4 net bookings driven by all-time high EA SPORTS FIFA franchise performance;\n\n\nCompany carries strong momentum into brand launch of EA SPORTS FC\n\n\n REDWOOD CITY, Calif.--(BUSINESS WIRE)--\nElectronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth quarter and fiscal year ended March 31, 2023.\n\n\n“EA delivered a strong Q4 with record net bookings, up 11 percent year-over-year, demonstrating the strength of our business. Our teams continue to create high quality entertainment, fueled by amazing games and deeply engaging live services,” said Andrew Wilson, CEO of Electronic Arts. “We're excited to continue our momentum, including the highly anticipated launch of EA SPORTS FC later this year.”\n\n\n\"Record live services performance and increased engagement, particularly from our EA SPORTS FIFA franchise, drove better-than-expected Q4 net bookings, capping a strong finish to the fiscal year,\" said Chris Suh, CFO. \"Looking ahead, our teams remain disciplined in prioritizing the player experience as we continue to focus our investments on long-term growth.\"\n\n\nSelected Operating Highlights and Metrics1\n\n\n\nNet bookings2 for Q4 was $1.946 billion, up 11% year-over-year (up 15% in constant currency).\n\n\n\nLive services and other net bookings for Q4 was $1.622 billion, a record for the quarter, up 9% year-over-year (up 13% in constant currency) and represented 83% of total net bookings.\n\n\n\nThe EA SPORTS FIFA franchise Q4 net bookings grew 31% year-over-year (up 37% in constant currency).\n\n\n\nIn the six months since launch, EA SPORTS FIFA 23 has surpassed life-time sales of EA SPORTS FIFA 22, becoming the most successful launch in franchise history.\n\n\n\nApex Legends delivered net bookings growth in Q4 year-over-year at constant currency, driven by a successful Season 16 with peak weekly active users up over 20% from the previous season.\n\n\n\nLife-to-date, The Sims 4 player network has grown to more than 70 million worldwide.\n\n\n\nSelected Financial Highlights and Metrics\n\n\n\nNet revenue was $1.874 billion for the quarter and $7.426 billion for the fiscal year.\n\n\n\nNet cash provided by operating activities was $617 million for the quarter and $1.550 billion for the fiscal year.\n\n\n\nEA repurchased 2.7 million shares for $325 million during the quarter, br...