Press release
Electronic Arts Reports Strong Q1 FY25 Results
Live services drive Q1 expectation beat and builds momentum for FY25 REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Electronic Arts (NASDAQ: EA) today announced
About this update from Electronic Arts Inc.
[{"type":"text","content":"\nLive services drive Q1 expectation beat and builds momentum for FY25\n\n\n REDWOOD CITY, Calif.--(BUSINESS WIRE)--\nElectronic Arts (NASDAQ: EA) today announced preliminary financial results for its first quarter ended June 30, 2024.\n\n\n“EA delivered a strong start to FY25, beating net bookings guidance as we continue to execute across our business,” said Andrew Wilson, CEO of EA. \"Our focus on delivering bigger, bolder, and more connected experiences for our players has never been sharper and is illustrated by the record-breaking launch of EA SPORTS College Football 25 as we head into another historic Q2 sports season at EA.\"\n\n\n“Strong execution, live events and continued player engagement across our experiences, delivered Q1 results above expectations,” said Stuart Canfield, CFO of EA. “Looking ahead, the remarkable success of our launch week for College Football, combined with the upcoming launches for EA SPORTS Madden NFL, EA SPORTS FC and Dragon Age: The Veilguard, is building momentum for FY25 and beyond. We are well positioned to deliver our multi-year financial objectives.”\n\n\nSelected Operating Highlights and Metrics\n\n\n\nNet bookings1 for the quarter totaled $1.262 billion, exceeding the high end of the guidance range of $1.250 billion. This was driven by stronger performance across Madden NFL 24, FC Online and FC Mobile.\n\n\n\nEA SPORTS FCTM celebrated real-world tournaments and events during Q1, attracting tens of millions of new fans and driving engagement across the franchise during the quarter.\n\n\n\n\nEA SPORTSTM Madden NFL delivered sustained momentum through the quarter, with weekly average users in Ultimate Team and total net bookings up double digits year-over-year.\n\n\n\nDuring the quarter, EA revealed Dragon Age: The Veilguard gameplay, which trended #1 on YouTube Gaming and received millions of views.\n\n\n\nAfter the quarter ended, EA SPORTSTM College Football 25 welcomed 5 million unique players into the game through its first week, with over 500,000 more playing via the EA Play trial.\n\n\n\nSelected Financial Highlights and Metrics\n\n\n\nNet revenue was $1.660 billion for the quarter.\n\n\n\nNet cash provided by operating activities was $120 million for the quarter and $2.076 billion for the trailing twelve months.\n\n\n\nEA repurchased 2.8 million shares for $375 million during the qu...