Financial Performance - Total net revenue for the fiscal quarter ended June 30, 2024, was $1,660 million, a decrease of 14 percent year-over-year[128] - Live services and other net revenue was $1,410 million, down 5 percent year-over-year[128] - Operating income decreased by 33 percent year-over-year to $364 million[128] - Net income was $280 million, with diluted earnings per share of $1.04[128] - Net bookings for the three months ended June 30, 2024, were $1,262 million, a decrease of 20 percent compared to the same period in 2023[138] - Live services and other net bookings were $1,094 million, down 7 percent year-over-year[138] - Digital full game downloads generated net revenue of $1,343 million, an increase from $1,262 million in 2023[131] - Full game net revenue for the three months ended June 30, 2024, was $250 million, down $193 million or 44% from the prior year, primarily due to the previous year's release of Star Wars Jedi: Survivor[164] - The decrease in net revenue was primarily driven by a $368 million decline due to the prior year release of Star Wars Jedi: Survivor and decreased sales of extra content for Apex Legends[162] Cost and Expenses - Cost of revenue decreased by $105 million, or 29%, from $368 million in Q2 2023 to $263 million in Q2 2024, representing 16% of net revenue[168] - Research and development expenses increased by $33 million, or 6%, from $596 million in Q2 2023 to $629 million in Q2 2024, representing 38% of net revenue[169] - Marketing and sales expenses decreased by $24 million, or 10%, from $229 million in Q2 2023 to $205 million in Q2 2024, maintaining 12% of net revenue[170] - General and administrative expenses increased by $17 million, or 10%, from $163 million in Q2 2023 to $180 million in Q2 2024, representing 11% of net revenue[172] Cash Flow and Shareholder Returns - Net cash provided by operating activities decreased by $239 million, from $359 million in Q2 2023 to $120 million in Q2 2024[176] - Net cash used in investing activities increased by $25 million, from $44 million in Q2 2023 to $69 million in Q2 2024, primarily due to a $22 million increase in capital expenditures[177] - Net cash used in financing activities increased by $64 million, from $482 million in Q2 2023 to $546 million in Q2 2024, driven by a $50 million increase in common stock repurchases[177] - The company returned $425 million to stockholders during the three months ended June 30, 2024, including $375 million in share repurchases and $50 million in dividends[182] Tax and Currency Risks - The effective tax rate increased from 28% in Q2 2023 to 29% in Q2 2024, primarily due to a partial release of valuation allowance in the prior year[173] - As of June 30, 2024, a hypothetical adverse foreign currency exchange rate movement of 10% would have resulted in potential declines in the fair value of cash flow hedging foreign currency forward contracts of $219 million[193] - A hypothetical adverse foreign currency exchange rate movement of 20% would have resulted in potential declines of $439 million on cash flow hedging contracts[193] - For balance sheet hedging, a 10% adverse foreign currency exchange rate movement would lead to potential losses of $72 million, while a 20% movement would result in losses of $143 million[193] - As of June 30, 2024, a hypothetical 150 basis point increase in interest rates would have resulted in a $4 million, or 1% decrease in the fair market value of short-term investments[197] Investment and Hedging Strategies - The company uses foreign currency forward contracts to hedge a portion of foreign currency risk related to forecasted sales and expenses, with maturities generally of 18 months or less[191] - The company maintains a short-term investment portfolio primarily consisting of high credit quality debt instruments, which are subject to market fluctuations[195] - As of June 30, 2024, short-term investments were classified as available-for-sale securities and recorded at fair value, with changes reported in accumulated other comprehensive income[196] - The company does not hedge its short-term investment portfolio against interest rate risks, but manages exposure through established policies[189] Internal Controls and Governance - 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[199] - There were no changes in internal controls over financial reporting that materially affected the company's reporting during the fiscal quarter ended June 30, 2024[200] Restructuring and Strategic Plans - The restructuring plan approved in February 2024 aims to align the portfolio and resources with strategic priorities, expected to be completed by December 31, 2024[137]

Electronic Arts TodayEAElectronic Arts$148.40 -2.54 (-1.68%) 52-Week Range$117.47▼$153.51Dividend Yield0.51%P/E Ratio31.71Price Target$160.16Add to WatchlistJuly 19, 2024, was Christmas in July for fans of the Electronic Arts Inc. NASDAQ: EA college football franchise. For the first time in a decade, gamers had the opportunity to play as their favorite college football teams and players as EA Sports College Football 25 launched online.During its early access period, which started on July 19, the game had 2. ...

Electronic Arts Inc. EA shares are trading higher on Wednesday.Yesterday, the company reported first-quarter net bookings of $1.26 billion, down from $1.58 billion in last year’s first quarter total of $1.58 billion. However, the net bookings came in ahead of company guidance of $1.25 billion. The results came amid an exciting earnings season. Here are some key analyst takeaways.Check out other analyst stock ratings.Goldman Sachs analyst Eric Sheridan reiterated a Neutral rating, raising the price forecast ...

Electronic Arts (EA) reported first-quarter fiscal 2025 earnings of 52 cents per share, which declined 54.4% year over year. Revenues decreased 13.7% year over year to $1.26 billion due to weakness in Live services and full-game revenues.The Zacks Consensus Estimate for earnings was pegged at 43 cents per share. The consensus mark for revenues was pinned at $1.215 billion.Net bookings for the fiscal first quarter were $1.262 billion, down 20% year over year in both actual and constant currency. Full-game ne ...

Electronic Arts Inc. (NASDAQ:EA) Q1 2025 Earnings Conference Call July 30, 2024 5:00 PM ET Company Participants Andrew Uerkwitz - VP, IR Andrew Wilson - CEO Stuart Canfield - CFO Conference Call Participants Eric Sheridan - Goldman Sachs Matthew Cost - Morgan Stanley Chris Schoell - UBS Cory Carpenter - JPMorgan Andrew Marok - Raymond James Colin Sebastian - Baird Clay Griffin - MoffettNathanson Operator Good afternoon. My name is Robin. I will be your conference operator today. At this time, I'd like to we ...

For the quarter ended June 2024, Electronic Arts (EA) reported revenue of $1.26 billion, down 20% over the same period last year. EPS came in at $0.52, compared to $1.14 in the year-ago quarter.The reported revenue represents a surprise of +3.87% over the Zacks Consensus Estimate of $1.21 billion. With the consensus EPS estimate being $0.43, the EPS surprise was +20.93%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Electronic Arts (EA) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.93%. A quarter ago, it was expected that this video game maker would post earnings of $1.54 per share when it actually produced earnings of $1.37, delivering a surprise of -11.04%.Over the last four quarters, the ...

Electronic Arts Inc. Q1 FY25 Results July 30, 2024 Table of Contents Safe Harbor Statement 2 Select Q1 FY25 Highlights Net Bookings Results Core Business and FY25 Title Slate Q1 FY25 Actuals & Guidance GAAP to Non-GAAP Reconciliation Appendix Safe Harbor Statement Please review our risk factors on Form 10-K filed with the SEC Some statements set forth in this document, including the information relating to EA's fiscal 2025 guidance information and title slate contain forward-looking statements that are subj ...

Exhibit 99.1 Electronic Arts Reports Strong Q1 FY25 Results Live services drive Q1 expectation beat and builds momentum for FY25 REDWOOD CITY, CA – July 30, 2024 – (NASDAQ: EA) today announced preliminary financial results for its first quarter ended June 30, 2024. "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 b ...

Major videogame publishers including Electronic Arts and Take-Two will likely stave off a big hit from the strike by voice actors and motion-capture artists due to their in-house studios and the lengthy development cycles for games, analysts said.The strike, which began last week, marked the latest in Hollywood after unions representing writers and actors took to the picket lines last year seeking protections against the use of artificial intelligence.It comes at a crucial time for the videogame industry as ...