Electronic Arts has announced its financial results for the first quarter of FY25. The game publisher’s $1.262 billion in net bookings exceeded guidance range expectations for the quarter.
“Electronic Arts 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.”
However, EA is generally lagging behind its performance in FY24. Compared to the same quarter last year, the company’s net bookings fell 20%. Similarly, net revenue fell 14% from $1.924 billion in Q1 FY24 to $1.660 billion in Q1 FY25.
The company attributes its better-than-expected performance to high engagement in Madden NFL 24, FC Online and FC Mobile.
“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.”
After these results were announced, EA’s stock price rose about 1-2% in after hours trading.
Looking forward, EA projects net bookings to total approximately $1.950 billion to $2.050 billion in the coming quarter. Similarly, the company expects net revenue to total approximately $1.900 billion to $2.000 billion, with net income ranging from $204 million to $248 million.
Author: Jordan Fragen
Source: Venturebeat
Reviewed By: Editorial Team
