Electronic Arts has released its financial report for the full fiscal year ended March 31, 2023. In addition to the financial figures, the company also shared some details about its games and upcoming releases.
Financial highlights for FY23
- EA reported net revenue of $7.42 billion for FY23, up 6% year-over-year.
- Live services accounted for 74% of the company’s total revenue, while full game sales only reached $1.9 billion.
- Net income was $802 million, up 1.6% from the previous fiscal year.
- EA’s net bookings (calculated by adding total net revenue to the change in deferred net revenue for online-enabled games) were $7.3 billion, down 2.3% year-over-year.
- Net bookings from live services set a new all-time record for the company. However, full game net bookings fell 16% year-over-year to $1.8 billion.
- Console accounted for 59% of EA’s total net bookings, followed by PC (24%) and mobile (17%).
- Console net bookings decreased by 6% year-over-year, while PC and mobile segments increased by 3% and 4% respectively.
- According to EA CEO Andrew Wilson, the company’s player base has expanded to nearly 700 million globally.
- He added that EA is focused on its three key strategies looking forward: “Building games and experiences that entertain massive online communities; creating blockbuster interactive storytelling; and amplifying the power of community in and around our games with social and creator tools.”
EA game releases
- FIFA 23 became the most successful launch in franchise history, surpassing lifetime sales of FIFA 22.
- Below you can see a schedule of EA’s announced releases for FY24. In the first fiscal quarter ending June 30, the company will launch three titles, Super Mega Baseball 4, a new F1 game, and Lord of the Rings: Heroes of Middle Earth.
- Three titles, Immortals of Aveum, Madden 24, and EA Sports FC (the first football game after the breakup with FIFA), will be released in the second quarter ending September 30, and NHL 24 is expected to launch in Q3 (ending December 31).
- EA also has two unannounced projects expected to come out in FY24.
- Based on this information, no more previously announced titles are expected to come out during the new fiscal year. So Dragon Age: Dreadwolf might be released no earlier than FY25 starting April 2024.
- Speaking of recently launched games, Andrew Wilson highlighted the success of Star Wars Jedi: Survivor. It is too early to disclose the sales figures, but the EA CEO noted that the title has attracted “millions of players” within the first few weeks.
- “We’re in a different kind of market dynamic, but I would tell you it’s pacing very strongly against our expectations and against Jedi: Fallen Order,” Wilson told investors during an earnings call.
- “Our dev teams are working with the community around some high-end PC specs, and beyond this, it has been a strong launch,” he added, calling it a GotY contender but not commenting on the game’s poor optimization and technical issues.
- Overall, EA expects Jedi: Survivor to become one of its main revenue drivers at the beginning of the new fiscal year.