EA's fiscal year revenue tops $7.4bn
EA Sports FIFA series sees net bookings up 31% year-on-year during the first three months of 2023
Sign up for the GI Daily here to get the biggest news straight to your inbox
EA released its fourth quarter and 2022 fiscal year earnings report today, with full-year revenues up 6% to reach a total of $7.4 billion.
While the company's Q4 period saw revenues up less than 3%, it also saw a bump of 11% year-on-year for net bookings driven by the EA Sports FIFA series.
Here's what you need to know:
The Numbers:
For the three months ended March 31, 2023:- Revenue: $1.87 billion, up 3% year-on-year
- Total net bookings: $1.95 billion, up 11% year-on-year
- Live services and other revenue: $1.5 billion, up 8% year-on-year
- Full game revenue: $372 million, down 15% year-on-year
- Net loss: $12 million, compared to a $225 million net income in last year's Q4
- Revenue: $7.43 billion, up 6% year-on-year
- Total net bookings: $7.3 billion, down 2% year on year
- Live services and other revenue: $5.49 billion, up 10% year on year
- Full game revenue: $1.94 billion, down 3% year on year
- Net income: $802 million, up 2% year on year
The Highlights
The EA-FIFA partnership is going out on a high note, as EA said FIFA 23 took just six months to surpass the lifetime sales of FIFA 22.
The latest entry also seems to have longer legs than its predecessor, as FIFA series Q4 net bookings increased 31% year-over-year.
Elsewhere in the catalog Apex Legends peak weekly active users for its Season 16 were up 20% from Season 15, while The Sims 4 grew to a total playerbase of 70 million globally.
EA posted a modest net loss for the Q4 period, one that can be attributed to $111 million in charges stemming from the restructuring and layoffs of 6% of staff announced in March.
"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," EA chief financial officer Chris Suh said.
"Looking ahead, our teams remain disciplined in prioritizing the player experience as we continue to focus our investments on long-term growth."
For the fiscal year ending on March 31, 2024, EA predicts that its revenues will range from $7.3 billion to $7.7 billion. Net bookings are also expected to be within the same range for the year.
Sign up for the GI Daily here to get the biggest news straight to your inbox