EA Q1 2024 Earnings Report
Key Takeaways
EA delivered a record Q1 with net bookings up 21% year-over-year, driven by EA SPORTS FIFA momentum and Star Wars Jedi: Survivor. Net revenue was $1.924 billion and net income was $402 million.
Net bookings for Q1 was $1.578 billion, up 21% year-over-year.
Live services and other net bookings for Q1 was $1.177 billion, up 4% year-over-year and represented 75% of total net bookings.
EA SPORTS FIFA net bookings growth accelerated year over year, delivering a record Q1 for the franchise.
Star Wars Jedi: Survivor launched to critical acclaim and commercial success.
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EA Revenue by Segment
EA Revenue by Geographic Location
Forward Guidance
For the second quarter of fiscal year 2024, EA expects net revenue between $1.825 billion and $1.925 billion and net bookings between $1.700 billion and $1.800 billion.
Positive Outlook
- Net revenue is expected to be approximately $1.825 billion to $1.925 billion.
- Change in deferred net revenue (online-enabled games) is expected to be approximately ($125) million.
- Net income is expected to be approximately $197 million to $243 million.
- Diluted earnings per share is expected to be approximately $0.72 to $0.89.
- Net bookings is expected to be approximately $1.700 billion to $1.800 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income