EA Q2 2024 Earnings Report

EA reported strong Q2 FY24 results, exceeding expectations due to the strength of the EA SPORTS portfolio and the successful launch of EA SPORTS FC 24.

Key Takeaways

Electronic Arts announced strong Q2 results driven by the EA SPORTS portfolio, including the successful launch of EA SPORTS FC 24. Net revenue was $1.914 billion, and net bookings reached $1.820 billion, up 4% year-over-year.

Net bookings for Q2 were $1.820 billion, up 4% year-over-year (up 5% in constant currency).

Live services and other net bookings for Q2 were $1.129 billion, up 1% year-over-year (up 2% in constant currency).

EA SPORTS Madden NFL franchise outperformed Q2 expectations, delivering net bookings growth of 6% year-over-year.

EA SPORTS global football franchise outperformed Q2 expectations driven by the continued strength of EA SPORTS FIFA 23 and demand for the release of EA SPORTS FC 24.

Total Revenue

$1.82B

Previous year: $1.75B

+3.8%

EPS

$1.46

Previous year: $1.45

+0.7%

Net Bookings

$1.82B

Gross Profit

$1.46B

Previous year: $1.44B

+1.1%

Cash and Equivalents

$1.95B

Previous year: $1.54B

+26.4%

Free Cash Flow

$61M

Total Assets

$13.1B

Previous year: $13.1B

+0.5%

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EA Revenue by Segment

EA Revenue by Geographic Location

Forward Guidance

EA provided financial outlook for Q3 FY24 ending December 31, 2023, expecting net revenue between $1.825 billion and $2.025 billion and net bookings between $2.250 billion and $2.450 billion.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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