EA Reports Record Q2 Financial Results

EA reports record Q2 financial results, according to Andrew Wilson, CEO of Electronic Arts. The company has announced preliminary financial results for its second fiscal quarter, which ended on September 30th, 2021.

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Wilson stated that many players all around the world had joined and engaged in EA’s leading franchises, new launches, and live services. Moreover, he said that EA’s success could be attributed to the company’s incredibly talented teams.

The financial report shows that net bookings for the trailing twelve months were $7.07 million, up by 27% year-over-year. For the second fiscal quarter, EA reported net revenues of $1.83 billion, which is an increase of 29% year-over-year.

Net bookings for the quarter had more than doubled from $910 million the year prior, the Q2 report stated. Moreover, the full game sales also doubled, reaching $617 million. EA stated that net cash provided by operating activities had been $64 million for Q2 and $1.42 billion in a twelve months period.

Also, EA said they’d repurchased 2.3 million shares for $325 million during the second fiscal quarter, which brought the total for the last twelve months to 9.5 million shares for $1.30 billion.

EA mobile games’ total revenue was $251 million, which is $33 million more than in Q1 2021.

Moreover, the company pointed out that 100 million users had played their EA Sports Football franchise games across all platforms. Their mobile game Star Wars: Galaxy of Heroes surpassed the 100 million lifetime player milestone in November 2021.

Strongest Second Quarter in Company History

EA CEO stated that it had been the strongest second quarter in the history of Electronic Arts. He added that he was happy that EA had managed to connect hundreds of millions of players all around the world.

Moreover, Wilson mentioned that their most popular franchises had been the EA Sports games Apex Legends and Battlefield 2042.

When it comes to Q3’s predictions, the company’s forecast net revenues are $1.75 billion, which would be a 5% year-over-year increase.

Additionally, the net bookings forecast for Q3 is $2.63 billion, which is a 10% increase from previous years’ Q3 reports.

Furthermore, EA predicted a net income of $5 million, much less than the previous year’s $211 million in Q3.

Also, EA pointed out that they’d increased their full-year net revenue forecast from $6.85 billion to more than $6.92 billion. For the entire year, their net income forecast has risen from $456 million to $583 million.

CFO Blake Jorgensen stated that they were very confident in their franchises. Especially during the holiday season, he added, which would be driven by Battlefield 2042. The Battlefield 2042 Open Beta had 7.7 million players, EA stated.

Apex Legends also scored high numbers with their Season 9 and 10, respectively, setting new marks for the highest active player count since Season 1, Wilson reports.

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