Call Start: 4:00 January 1, 0000 4:29 AM ET Electronic Arts Inc. (NASDAQ:EA) Nasdaq 49th Investor Conference Call December 5, 2023 4:00 AM ET Company Participants Stuart Canfield - Executive VP & CFO Conference Call Participants Matt Cost - Morgan Stanley Matt Cost Okay, we're on. All right. Good morning, everyone. Thanks so much for being here. My name is Matt Costs from Morgan Stanley, US internet team, thrilled to be joined by Stuart Canfield, the CFO of EA, thank you so much for being here. Stuart Canfi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☑ 1934 For the Quarterly Period Ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 For the transition period from to Commission File No. 000-17948 ELECTRONIC ARTS INC. (Exact name of registrant as specified in its charter) Delaware 94-2838567 (State or other jurisdiction of (I.R ...

Electronic Arts Inc. (NASDAQ:EA) Q2 2024 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Katie Burke - Director of Investor Relations Andrew Wilson - Chief Executive Officer Stuart Canfield - Chief Financial Officer Conference Call Participants Matthew Cost - Morgan Stanley Benjamin Soff - Deutsche Bank AG Eric Handler - ROTH MKM Partners, LLC David Karnovsky - JPMorgan Chase & Co. Brian Fitzgerald - Wells Fargo Securities LLC Eric Sheridan - Goldman Sachs Group, Inc. Operator Good ...

Q2 FY24 Performance Highlights - Total Net Bookings grew by 4% year-over-year[6] - Live Services TTM (Trailing Twelve Months) Net Bookings reached $56 billion[6] - EA SPORTS Madden NFL Net Bookings increased by 6% year-over-year[6] - Total TTM Net Bookings amounted to $77 billion, with Live Services accounting for 73% of this total[6] - TTM Operating Cash Flow was $22 billion[6] Net Bookings Analysis - Q2 FY24 Net Bookings reached $1820 million, a 4% increase year-over-year[8] - Full game net bookings were $691 million, a 9% increase year-over-year[8] - Live services and other net bookings were $1129 million, a 1% increase year-over-year[8] - TTM Net Bookings reached $7686 million[8] Net Bookings by Platform - Console net bookings in Q2 FY24 were $1152 million, a 12% increase year-over-year[11] - PC & Other net bookings in Q2 FY24 were $389 million, a 10% decrease year-over-year[11] - Mobile net bookings in Q2 FY24 were $279 million, a 6% decrease year-over-year[11] Financial Guidance - Q3 FY24 Net Bookings are projected to be between $2250 million and $2450 million[14] - FY24 Net Bookings are projected to be between $7300 million and $7700 million[14] - FY24 Operating Cash Flow is expected to be between $1950 million and $2100 million[14]

Summary of Electronic Arts Inc. Conference Call Company Overview - **Company**: Electronic Arts Inc. (NASDAQ: EA) - **Date**: August 6, 2023 - **Participants**: Andrew Wilson (CEO), Eric Sheridan (Goldman Sachs) Key Industry Insights - **Entertainment Trends**: The gaming industry is increasingly becoming the primary form of entertainment for younger generations (Gen Z and Gen Alpha), who engage more deeply with interactive entertainment than previous generations [3][4] - **Growth Post-COVID**: The gaming industry, including EA, has continued to grow even after the initial spike during the COVID-19 pandemic [4] - **Disruption in Traditional Media**: There is significant disruption in traditional media and entertainment, particularly with the rise of short-form video content, which competes with gaming for the attention of younger audiences [5][6] Company Strategy and Positioning - **Community Engagement**: EA aims to build games and experiences that attract massive online communities, focusing on storytelling and community engagement beyond the games themselves [7][8] - **Platform Development**: EA is positioning itself as a platform for interactive entertainment, similar to how Disney has built experiences around its IP [10][11] - **User-Generated Content**: Approximately half of EA's 700 million users are engaged in user-generated content, which is a significant part of the company's engagement strategy [11] Key Products and Future Pipeline - **FC (formerly FIFA)**: The rebranding of FIFA to FC has allowed EA to expand its offerings and partnerships, leading to a 50% growth in North America [22][23] - **Sims and Battlefield**: The Sims remains a strong product in the lifestyle game market, while Battlefield is being restructured for future success [25][26] - **Apex Legends**: With around 175-200 million players and a 70% retention rate, Apex is a key part of EA's growth strategy [26] - **Storytelling Initiatives**: EA plans to invest in blockbuster storytelling for franchises like Dragon Age, Star Wars, and Marvel [28][50] Organizational Changes - **Management Structure**: EA has undergone organizational changes to enhance decision-making speed and align with strategic priorities, focusing on different cadences for sports and entertainment divisions [16][17][19] Capital Allocation and M&A Strategy - **Acquisitions**: EA has made strategic acquisitions, such as Respawn, to strengthen its position in mobile gaming and enhance its IP portfolio [43][44] - **Mobile Gaming**: Despite challenges in the mobile gaming sector, EA sees significant growth potential in mobile, particularly with connected ecosystems [46][47] - **Future Investments**: The majority of capital allocation will focus on building games and experiences for large online communities, with an emphasis on sports and storytelling [48][50] Conclusion - **Long-Term Growth**: EA believes in the long-term potential of its IPs, with expectations of exponential growth driven by community engagement and interactive content [39][40] - **Digital Sports Fandom**: EA aims to dominate digital sports fandom, leveraging its extensive sports content and fan engagement [51]

Financial Performance - Total net revenue for the fiscal quarter ended June 30, 2023, was $1,924 million, representing a 9% year-over-year increase[124]. - Operating income increased by 23% year-over-year to $542 million, while net income was $402 million with diluted earnings per share of $1.47[124]. - Net cash provided by operating activities was $359 million, a significant increase of 560% year-over-year[124]. - Net revenue for the three months ended June 30, 2023, was $1,924 million, an increase of $157 million or 9% compared to the same period in 2022[161]. - Full game net revenue for the three months ended June 30, 2023, was $443 million, up $102 million or 30% year-over-year, driven by the release of Star Wars Jedi: Survivor and FIFA 23[163]. - Live services and other net revenue for the three months ended June 30, 2023, was $1,481 million, an increase of $55 million or 4% compared to the same period in 2022, primarily due to sales of extra content for FIFA Ultimate Team[164]. - Full game downloads generated $301 million in revenue for the three months ended June 30, 2023, a 27% increase from $237 million in the same period last year[162]. - Packaged goods revenue was $142 million for the three months ended June 30, 2023, reflecting a 37% increase from $104 million in the prior year[162]. Bookings and Revenue Recognition - Net bookings for the three months ended June 30, 2023, were $1,578 million, an increase of $279 million or 21% compared to the same period in 2022[136]. - Live services and other net bookings were $1,177 million, up $43 million or 4% year-over-year, primarily driven by sales of extra content for FIFA Ultimate Team[136]. - The company recognizes revenue from subscriptions ratably over the subscription term as the performance obligation is satisfied[144]. - Revenue for service-related performance obligations for digitally-distributed games is recognized over an estimated eight-month period beginning in the month of sale[150]. - The company evaluates sales to end customers via third-party storefronts to determine if revenue should be reported gross or net of fees retained by the storefront[151]. Expenses and Costs - Cost of revenue increased by $54 million, or 17%, to $368 million for the three months ended June 30, 2023, compared to $314 million for the same period in 2022[167]. - Research and development expenses rose by $24 million, or 4%, to $596 million for the three months ended June 30, 2023, primarily due to a $12 million increase in stock-based compensation[168]. - Marketing and sales expenses decreased by $5 million, or 2%, to $229 million for the three months ended June 30, 2023, mainly due to a reduction in personnel-related costs[170]. - General and administrative expenses decreased by $4 million, or 2%, to $163 million for the three months ended June 30, 2023, primarily due to a decrease in stock-based compensation[173]. Cash Flow and Capital Management - Net cash provided by operating activities increased by $437 million to $359 million for the three months ended June 30, 2023, compared to a net cash outflow of $78 million in the same period in 2022[176]. - Total cash and cash equivalents decreased by $165 million to $2,259 million as of June 30, 2023, from $2,424 million as of March 31, 2023[175]. - The company returned $377 million to stockholders during the three months ended June 30, 2023, through share repurchases and dividends[182]. - As of June 30, 2023, approximately $1,165 million of cash and cash equivalents were domiciled in foreign tax jurisdictions, available for repatriation without a material tax cost[182]. Tax and Deferred Assets - The effective tax rate for the three months ended June 30, 2023, was 28%, down from 29% in the same period in 2022, due to a higher proportion of non-U.S. income in lower tax jurisdictions[174]. - The company recognizes deferred tax assets and liabilities based on expected future tax benefits and the impact of differences between financial statement amounts and tax bases[152]. Strategic Plans and Future Outlook - The company plans to transition its global football franchise to the new EA SPORTS FC brand starting in fiscal year 2024, aiming to create the largest football club in the world[131]. - The 2023 Restructuring Plan aims to prioritize investments in growth opportunities and optimize the real estate portfolio, expected to be substantially complete by September 30, 2023[134]. - Capital expenditures are expected to be approximately $275 million in fiscal year 2024, primarily for facility buildouts[181]. Risk Management - The company manages interest rate risk through a short-term investment portfolio primarily consisting of high credit quality debt instruments[194]. - The company employs foreign currency forward contracts to hedge anticipated exposures related to foreign currency-denominated sales and expenses[190]. - The company believes that the risk of counterparty nonperformance in foreign currency forward contracts is not material, but market disruptions could affect this[191]. - As of June 30, 2023, a hypothetical 150 basis point increase in interest rates would have resulted in a $2 million, or 1% decrease in the fair market value of short-term investments[196]. - As of June 30, 2023, a hypothetical adverse foreign currency exchange rate movement of 10% would have resulted in potential declines in the fair value of foreign currency forward contracts used in cash flow hedging of $210 million[192]. - A hypothetical adverse foreign currency exchange rate movement of 20% would have resulted in potential declines of $419 million in the same contracts[192]. - For balance sheet hedging, a 10% adverse movement would lead to potential losses of $101 million, while a 20% movement would result in losses of $202 million[192]. Internal Controls and Compliance - The effectiveness of the company's disclosure controls and procedures was evaluated as effective by the CEO and CFO as of the end of the reporting period[198]. - There were no changes in internal controls over financial reporting that materially affected the company during the fiscal quarter ended June 30, 2023[199]. - The company does not hedge its short-term investment portfolio against market price risk relating to marketable equity securities[188].

Electronic Arts Inc. (NASDAQ:EA) Q1 2024 Earnings Conference Call August 1, 2023 5:00 PM ET Company Participants Katie Burke - Director, Investor Relations Andrew Wilson - Chief Executive Officer Stuart Canfield - Chief Financial Officer Laura Miele - President of EA Entertainment, Technology and Central Development Conference Call Participants Eric Sheridan - Goldman Sachs Clay Griffin - MoffettNathanson Andrew Uerkwitz - Jefferies Matthew Cost - Morgan Stanley Colin Sebastian - Baird Matthew Thornton - Tr ...

Electronic Arts Inc. Q1 FY24 Results Safe Harbor Statement Select Q1 FY24 Highlights Net Bookings Results Table of Existing Live Services and FY24 Title Slate Contents Introducing EA SPORTS FC Guidance Safe Harbor Statement ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the transition period from to Commission File No. 000-17948 ELECTRONIC ARTS INC. (Exact name of registrant as specified in its charter) Delaware 94-2838567 (State or other jurisdiction of (I.R.S. Employer ...

Electronic Arts, Inc. (NASDAQ:EA) Q4 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Stuart Canfield - SVP, IR Andrew Wilson - Chairman & CEO Christopher Suh - EVP & CFO Laura Miele - EVP & Chief Operating Officer Conference Call Participants Andrew Uerkwitz - Jefferies Benjamin Soff - Deutsche Bank Matthew Thornton - Truist Securities Clayton Griffin - MoffettNathanson Eric Sheridan - Goldman Sachs Group Stephen Ju - Crédit Suisse Michael Hickey - The Benchmark Company Douglas Cre ...