Electronic Arts has released its financial report for the three months ended June 30. Here are the key takeaways and data on the company’s top-performing games and franchises.
Financial highlights
- Electronic Arts’ net revenue for the first quarter of FY24 was $1.92 billion, up 9% year-over-year.
- Live service games accounted for 77% of the total, while full game sales amounted to $443 million.
- Console remained the largest platform by revenue, accounting for 60% of the total. It is followed by PC (23.4%) and mobile (16%).
- The company’s net income reached $402 million, up 29% year-over-year.
- Net bookings were $1.57 billion, up 21% year-over-year. This is the first-quarter record for Electronic Arts.
- Full-game net bookings grew 143% year-over-year driven by the launch of Star Wars Jedi: Survivor.
EA’s quarterly revenue from Q1 FY23 to Q1 FY24
How did Electronic Arts’ games perform in Q1 FY24?
- During an earnings call, EA CEO Andrew Wilson noted that in the first quarter, the company launched five new games, “while providing over 145 content updates across 37 titles.”
- Apex Legends has 18 million monthly active users, with a 70% retention rate.
- Here are some vague stats on the FIFA franchise: FIFA Mobile attracted over 65 million new players in the quarter, FIFA Online showed “double-digit growth across monthly, weekly, and daily average users,” and EA SPORTS FIFA had a record quarter in terms of net bookings.
- Star Wars Jedi: Survivor attracted “millions of players” and performed in line with the company’s expectations, although exact sales figures remain undisclosed. Respawn Entertainment is now working on versions for PS4 and Xbox One.
- Sims 4 attracted over 4 million new players in the quarter.
According to Wilson, AAA games and big live service titles will only be getting bigger going forward.
“Games like Dragon Age and Jedi can tell truly blockbuster stories and really break into that top category of games,” he said. “I think what we see today is the mid-tier and lower games that maybe did pretty well through COVID because people had a lot of spare time. They’re the parts of the industry that really aren’t doing and performing as well. And as we think about our future, you should expect that we will continue to focus our investments and our energy, and our resources against these big opportunities because we do believe that is where the industry is trending.”