REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its second fiscal quarter ended September 30, 2020.


“Thanks to the incredible work of our teams and everything they continue to do for players while working from home, we’re delivering more fan-favorite games, growing our leading live services, and engaging more players across more platforms than ever before,” said CEO Andrew Wilson. “Our business has grown significantly this year, and we are projecting continued expansion into FY22 and beyond.”

“We delivered a quarter well above our guidance, driven by our live services, particularly Madden and FIFA. This resulted in a new record trailing twelve-month cash flow of $2.04 billion. We are pleased to announce a new share repurchase program and also to initiate a dividend for the first time in EA history,” said COO and CFO Blake Jorgensen. “We are on track to deliver strong growth this year and expect continued growth in fiscal 2022 and in the years to come. Apex Legends is on track to become our latest billion-dollar franchise by the end of the fiscal year. All of our studios continue to execute amazingly well and have enabled us to launch an industry-leading eight games since the beginning of the fiscal year, while continuing to deliver live services content and expand onto new platforms.”

EA has posted a refreshed slide presentation and a financial model of EA’s historical results and guidance on EA’s IR website at www.ir.ea.com. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR website. News and ongoing updates regarding EA and its games are available on EA’s blog at www.ea.com/news.

Selected Operating Highlights and Metrics

  • Net bookings* for the trailing twelve months was $5.577 billion, up 8% year-over-year.
  • Launched EA SPORTS™ UFC® 4, Madden NFL 21, Rocket Arena, and Star Wars™: Squadrons during the quarter.
  • Madden NFL 21 has nearly 30% more players year-over-year.
  • Life to date, FIFA 20 has reached nearly 35 million players on console and PC.
  • EA Play now has more than 6.5 million paid subscribers.
  • During the fiscal year, EA launched more than 125 games and content packs on the Steam platform.

* Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

Selected Financial Highlights and Metrics

  • Net cash provided by operating activities was $61 million for the quarter and a record $2.041 billion for the trailing twelve months.
  • EA announced a new $2.6 billion, two-year stock repurchase program and declared a quarterly cash dividend of $0.17 per share.

Quarterly Financial Highlights

Three Months Ended

September 30,

2020

2019

(in $ millions, except per share amounts)
Full game

282

580

Live services and other

869

768

Total net revenue

1,151

1,348

 
Net income

185

854*
Diluted earnings per share

0.63

2.89*
 
Operating cash flow

61

37

 
Value of shares repurchased

-

306

Number of shares repurchased

-

3.3

 
*Includes the impact of one-time tax benefits recognized during the fiscal quarter.

The following GAAP-based financial data and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Three Months Ended September 30, 2020
GAAP-Based Financial Data
(in $ millions)

Statement of
Operations

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-
enabled
games)

Stock-based
compensation

Total net revenue

1,151

 

-

 

(241

)

-

 

Cost of revenue

286

 

-

 

-

 

(2

)

Gross profit

865

 

-

 

(241

)

2

 

Total operating expenses

716

 

(6

)

-

 

(111

)

Operating income

149

 

6

 

(241

)

113

 

Interest and other income, net

(10

)

-

 

-

 

-

 

Income before provision for income taxes

139

 

6

 

(241

)

113

 

Number of shares used in computation:
Diluted

293

 

For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2020.

Financial Highlights for the Trailing Twelve Months

Twelve Months Ended

September 30,

2020

2019

(in $ millions)
Full game

1,686

1,726

Live services and other

3,904

3,358

Total net revenue

5,590

5,084

 
Net income

1,314

2,746*
 
Operating cash flow

2,041

1,748

 
Value of shares repurchased

674

1,204

Number of shares repurchased

6.5

12.9

 
*Includes the impact of one-time tax benefits recognized during the period.

The following GAAP-based financial data and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Twelve Months Ended September 30, 2020
GAAP-Based Financial Data
(in $ millions)

Statement of
Operations

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-
enabled
games)

Stock-based
compensation

Total net revenue

5,590

-

 

(13

)

-

 

Cost of revenue

1,351

(8

)

-

 

(5

)

Gross profit

4,239

8

 

(13

)

5

 

Total operating expenses

2,857

(24

)

-

 

(392

)

Operating income

1,382

32

 

(13

)

397

 

Interest and other income, net

13

-

 

-

 

-

 

Income before provision for income taxes

1,395

32

 

(13

)

397

 

For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2020.

Operating Metric

The following is a calculation of our total net bookings for the periods presented:

Three Months Ended

Twelve Months Ended

September 30,

September 30,

2020

2019*

2020*

2019*

(in $ millions)
Total net revenue

1,151

 

1,348

 

5,590

 

5,084

Change in deferred net revenue (online-enabled games)

(241

)

(35

)

(13

)

79

Net bookings

910

 

1,313

 

5,577

 

5,163

 
*At the beginning of FY21, EA changed the way in which it presents net bookings. Periods prior to the first quarter of FY21 have been recast for comparability to align with these changes. For more information, please see the Financial Reporting FAQ on our IR website.

Stock Repurchase Program and Dividend

EA’s Board of Directors has approved a new two-year program to repurchase up to $2.6 billion of EA's common stock.

Under the program, EA may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. EA is not obligated to repurchase any specific number of shares under the program and the repurchase program may be modified, suspended or discontinued at any time.

In addition, EA’s Board of Directors initiated a quarterly dividend and declared a cash dividend of $0.17 per share of EA’s common stock. The dividend is payable on December 23, 2020 to stockholders of record as of the close of business on December 2, 2020.

Business Outlook as of November 5, 2020

The following forward-looking statements reflect expectations as of November 5, 2020. Electronic Arts assumes no obligation to update these statements. Results may be materially different and are affected by many factors detailed in this release and in EA’s annual and quarterly SEC filings.

Fiscal Year 2021 Expectations – Ending March 31, 2021

Financial metrics:

  • Net revenue is expected to be approximately $5.625 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $325 million.
  • Net income is expected to be approximately $924 million.
  • Diluted earnings per share is expected to be approximately $3.15.
  • Operating cash flow is expected to be approximately $1.850 billion.
  • The Company estimates a share count of 293 million for purposes of calculating fiscal year 2021 diluted earnings per share.

Operational metric:

  • Net bookings is expected to be approximately $5.950 billion.

In addition, the following outlook for GAAP-based financial data and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Twelve Months Ending March 31, 2021

GAAP-Based Financial Data

GAAP
Guidance

Acquisition-
related
expenses

Change in
deferred net
revenue (online-
enabled games)

Stock-based
compensation

(in $ millions)
Total net revenue

5,625

-

 

325

-

 

Cost of revenue

1,485

-

 

-

(3

)

Operating expense

3,022

(20

)

-

(442

)

Income before provision for income taxes

1,086

20

 

325

445

 

Net income

924

Number of shares used in computation:
Diluted shares

293

Third Quarter Fiscal Year 2021 Expectations – Ending December 31, 2020

Financial metrics:

  • Net revenue is expected to be approximately $1.675 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $675 million.
  • Net income is expected to be approximately $180 million.
  • Diluted earnings per share is expected to be approximately $0.61.
  • The Company estimates a share count of 294 million for purposes of calculating third quarter fiscal year 2021 diluted earnings per share.

Operational metric:

  • Net bookings is expected to be approximately $2.350 billion.

In addition, the following outlook for GAAP-based financial data and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Three Months Ending December 31, 2020

GAAP-Based Financial Data

GAAP
Guidance

Acquisition-
related
expenses

Change in deferred
net revenue (online-
enabled games)

Stock-based
compensation

(in $ millions)
Total net revenue

1,675

-

 

675

-

 

Cost of revenue

599

-

 

-

-

 

Operating expense

840

(5

)

-

(115

)

Income before provision for income taxes

227

5

 

675

115

 

Net income

180

Number of shares used in computation:
Diluted shares

294

For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2020.

Conference Call and Supporting Documents

Electronic Arts will host a conference call on November 5, 2020 at 2:00 pm PT (5:00 pm ET) to review its results for the second fiscal quarter ended September 30, 2020 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (866) 324-3683 (domestic) or (509) 844-0959 (international), using the conference code 6481848 or via webcast at EA’s IR Website at http://ir.ea.com.

EA has posted a slide presentation with a financial model of EA’s historical results and guidance on EA’s IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR Website.

A dial-in replay of the conference call will be available until November 19, 2020 at 855-859-2056 (domestic) or 404-537-3406 (international) using pin code 6481848. An audio webcast replay of the conference call will be available for one year on EA’s IR Website.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA’s fiscal 2021 expectations under the heading “Business Outlook as of November 5, 2020,” and other information regarding EA's fiscal 2021 and fiscal 2022 expectations contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements.

Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: the impact of the COVID-19 pandemic, sales of the Company’s products and services; the Company’s ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company’s sales and marketing programs; timely development and release of the Company’s products and services; the Company’s ability to realize the anticipated benefits of acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; general economic conditions; changes in our tax rates or tax laws; and other factors described in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2020.

These forward-looking statements are current as of November 5, 2020. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts.

While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended September 30, 2020.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2020, EA posted GAAP net revenue of $5.5 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™ and Plants vs. Zombies™. More information about EA is available at www.ea.com/news.

EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2020 Lucasfilm Ltd. All rights reserved. John Madden, NFL, UFC and FIFA are the property of their respective owners and used with permission.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

(in $ millions, except per share data)

 

 

 

 

 

 

Three Months Ended

Six Months Ended

 

September 30,

September 30,

 

2020

 

2019

 

2020

 

2019

Net revenue

1,151

 

1,348

 

2,610

 

2,557

 

Cost of revenue

286

 

405

 

574

 

592

 

Gross profit

865

 

943

 

2,036

 

1,965

 

Operating expenses:

 

 

 

 

Research and development

421

 

387

 

859

 

768

 

Marketing and sales

156

 

152

 

277

 

262

 

General and administrative

133

 

128

 

269

 

238

 

Acquisition-related contingent consideration

 

2

 

 

3

 

Amortization of intangibles

6

 

6

 

11

 

11

 

Total operating expenses

716

 

675

 

1,416

 

1,282

 

Operating income

149

 

268

 

620

 

683

 

Interest and other income (expense), net

(10

)

16

 

(13

)

37

 

Income before provision for (benefit from) income taxes

139

 

284

 

607

 

720

 

Provision for (benefit from) income taxes

(46

)

(570

)

57

 

(1,555

)

Net income

185

 

854

 

550

 

2,275

 

Earnings per share

 

 

 

 

Basic

0.64

 

2.89

 

1.90

 

7.69

 

Diluted

0.63

 

2.89

 

1.88

 

7.66

 

Number of shares used in computation

 

 

 

 

Basic

289

 

295

 

289

 

296

 

Diluted

293

 

296

 

292

 

297

 

Results (in $ millions, except per share data)

The following table reports the variance of the actuals versus our guidance provided on July 30, 2020 for the three months ended September 30, 2020 plus a comparison to the actuals for the three months ended September 30, 2019.

 

Three Months Ended September 30,

 

2020

 

 

 

2020

 

2019

 

Guidance

 

Variance

 

Actuals

 

Actuals

Net revenue

 

 

 

 

Net revenue

1,125

 

26

 

1,151

 

1,348

 

GAAP-based financial data

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(250

)

9

 

(241

)

(35

)

Cost of revenue

 

 

 

 

Cost of revenue

280

 

6

 

286

 

405

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

 

 

 

(2

)

Stock-based compensation

 

(2

)

(2

)

(1

)

Operating expenses

 

 

 

 

Operating expenses

755

 

(39

)

716

 

675

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

(5

)

(1

)

(6

)

(8

)

Stock-based compensation

(110

)

(1

)

(111

)

(91

)

Income before tax

 

 

 

 

Income before tax

83

 

56

 

139

 

284

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

5

 

1

 

6

 

10

 

Change in deferred net revenue (online-enabled games)1

(250

)

9

 

(241

)

(35

)

Stock-based compensation

110

 

3

 

113

 

92

 

Tax rate used for management reporting

18

%

 

18

%

18

%

Earnings per share

 

 

 

 

Basic

0.21

 

0.43

 

0.64

 

2.89

 

Diluted

0.21

 

0.42

 

0.63

 

2.89

 

Number of shares

 

 

 

 

Basic

289

 

 

289

 

295

 

Diluted

293

 

 

293

 

296

 

1The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

 

In fiscal 2021, EA changed the way in which it presents net revenue. Periods prior to the first quarter of fiscal 2021 have been recast for comparability to align with these changes. For more information please see the Financial Reporting FAQ on our Investor Relations Website.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets

(in $ millions)

 

 

 

 

September 30, 2020

March 31, 20202

ASSETS

 

 

Current assets:

 

 

Cash and cash equivalents

4,059

 

3,768

 

Short-term investments

1,972

 

1,967

 

Receivables, net

423

 

461

 

Other current assets

376

 

321

 

Total current assets

6,830

 

6,517

 

Property and equipment, net

458

 

449

 

Goodwill

1,891

 

1,885

 

Acquisition-related intangibles, net

42

 

53

 

Deferred income taxes, net

1,937

 

1,903

 

Other assets

312

 

305

 

TOTAL ASSETS

11,470

 

11,112

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

Current liabilities:

 

 

Accounts payable

164

 

68

 

Accrued and other current liabilities

1,083

 

1,052

 

Deferred net revenue (online-enabled games)

639

 

945

 

Senior notes, current, net

599

 

599

 

Total current liabilities

2,485

 

2,664

 

Senior notes, net

397

 

397

 

Income tax obligations

301

 

373

 

Deferred income taxes, net

1

 

1

 

Other liabilities

211

 

216

 

Total liabilities

3,395

 

3,651

 

 

 

 

Stockholders’ equity:

 

 

Common stock

3

 

3

 

Additional paid-in capital

145

 

 

Retained earnings

8,016

 

7,508

 

Accumulated other comprehensive loss

(89

)

(50

)

Total stockholders’ equity

8,075

 

7,461

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

11,470

 

11,112

 

2Derived from audited consolidated financial statements.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Cash Flows

(in $ millions)

 

 

 

 

 

 

Three Months Ended
September 30,

 

Six Months Ended
September 30,

 

2020

 

2019

 

2020

 

2019

OPERATING ACTIVITIES

 

 

 

 

Net income

185

 

854

 

550

 

2,275

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation, amortization and accretion

40

 

35

 

77

 

72

 

Stock-based compensation

113

 

92

 

215

 

165

 

Change in assets and liabilities

 

 

 

 

Receivables, net

83

 

(529

)

39

 

(235

)

Other assets

(157

)

9

 

(113

)

33

 

Accounts payable

109

 

91

 

106

 

51

 

Accrued and other liabilities

(30

)

144

 

(96

)

88

 

Deferred income taxes, net

(42

)

(626

)

(32

)

(1,800

)

Deferred net revenue (online-enabled games)

(240

)

(33

)

(307

)

(454

)

Net cash provided by operating activities

61

 

37

 

439

 

195

 

INVESTING ACTIVITIES

 

 

 

 

Capital expenditures

(25

)

(27

)

(63

)

(72

)

Proceeds from maturities and sales of short-term investments

724

 

435

 

1,418

 

793

 

Purchase of short-term investments

(752

)

(721

)

(1,416

)

(1,984

)

Net cash used in investing activities

(53

)

(313

)

(61

)

(1,263

)

FINANCING ACTIVITIES

 

 

 

 

Proceeds from issuance of common stock

40

 

30

 

43

 

33

 

Cash paid to taxing authorities for shares withheld from employees

(8

)

(4

)

(77

)

(55

)

Repurchase and retirement of common stock

 

(306

)

(78

)

(611

)

Payment of contingent consideration

 

(32

)

 

(64

)

Net cash provided by (used in) financing activities

32

 

(312

)

(112

)

(697

)

Effect of foreign exchange on cash and cash equivalents

6

 

(5

)

25

 

(3

)

Change in cash and cash equivalents

46

 

(593

)

291

 

(1,768

)

Beginning cash and cash equivalents

4,013

 

3,533

 

3,768

 

4,708

 

Ending cash and cash equivalents

4,059

 

2,940

 

4,059

 

2,940

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

YOY %

 

FY20

 

FY20

 

FY20

 

FY21

 

FY21

 

Change

Net revenue

 

 

 

 

 

 

Net revenue

1,348

 

1,593

 

1,387

 

1,459

 

1,151

 

(15

%)

GAAP-based financial data

 

 

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(35

)

428

 

(131

)

(69

)

(241

)

 

Gross profit

 

 

 

 

 

 

Gross profit

943

 

1,085

 

1,118

 

1,171

 

865

 

(8

%)

Gross profit (as a % of net revenue)

70

%

68

%

81

%

80

%

75

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

2

 

5

 

3

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(35

)

428

 

(131

)

(69

)

(241

)

 

Stock-based compensation

1

 

1

 

1

 

1

 

2

 

 

Operating income

 

 

 

 

 

 

Operating income

268

 

361

 

401

 

471

 

149

 

(44

%)

Operating income (as a % of net revenue)

20

%

23

%

29

%

32

%

13

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

10

 

12

 

9

 

5

 

6

 

 

Change in deferred net revenue (online-enabled games)1

(35

)

428

 

(131

)

(69

)

(241

)

 

Stock-based compensation

92

 

91

 

91

 

102

 

113

 

 

Net income

 

 

 

 

 

 

Net income

854

 

346

 

418

 

365

 

185

 

(78

%)

Net income (as a % of net revenue)

63

%

22

%

30

%

25

%

16

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

10

 

12

 

9

 

5

 

6

 

 

Change in deferred net revenue (online-enabled games)1

(35

)

428

 

(131

)

(69

)

(241

)

 

Stock-based compensation

92

 

91

 

91

 

102

 

113

 

 

Tax rate used for management reporting

18

%

18

%

18

%

18

%

18

%

 

Diluted earnings per share

2.89

 

1.18

 

1.43

 

1.25

 

0.63

 

(78

%)

Number of diluted shares used in computation

 

 

 

 

 

 

Basic

295

 

292

 

290

 

288

 

289

 

 

Diluted

296

 

294

 

292

 

292

 

293

 

 

1The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

 

In fiscal 2021, EA changed the way in which it presents net revenue. Periods prior to the first quarter of fiscal 2021 have been recast for comparability to align with these changes. For more information please see the Financial Reporting FAQ on our Investor Relations Website.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions)

 

 

 

 

 

 

 

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

YOY %

 

FY20

 

FY20

 

FY20

 

FY21

 

FY21

 

Change

QUARTERLY NET REVENUE PRESENTATIONS

 

 

 

 

 

 

Net revenue by composition

 

 

 

 

 

 

Full game downloads

181

 

286

 

211

 

223

 

163

 

(10

%)

Packaged goods

399

 

403

 

145

 

136

 

119

 

(70

%)

Full game

580

 

689

 

356

 

359

 

282

 

(51

%)

Live services and other

768

 

904

 

1,031

 

1,100

 

869

 

13

%

Total net revenue

1,348

 

1,593

 

1,387

 

1,459

 

1,151

 

(15

%)

Full game

43

%

43

%

26

%

25

%

25

%

 

Live services and other

57

%

57

%

74

%

75

%

75

%

 

Total net revenue %

100

%

100

%

100

%

100

%

100

%

 

GAAP-based financial data

 

 

 

Full game downloads

(5

)

31

 

(21

)

(5

)

(2

)

 

Packaged goods

62

 

60

 

(67

)

(67

)

(14

)

 

Full game

57

 

91

 

(88

)

(72

)

(16

)

 

Live services and other

(92

)

337

 

(43

)

3

 

(225

)

 

Total change in deferred net revenue (online-enabled games) by composition1

(35

)

428

 

(131

)

(69

)

(241

)

 

 

 

 

 

 

 

 

Net revenue by platform

 

 

 

 

 

 

Console

923

 

1,163

 

928

 

932

 

714

 

(23

%)

PC & Other

248

 

261

 

274

 

325

 

249

 

 

Mobile

177

 

169

 

185

 

202

 

188

 

6

%

Total net revenue

1,348

 

1,593

 

1,387

 

1,459

 

1,151

 

(15

%)

GAAP-based financial data

 

 

 

Console

8

 

388

 

(143

)

(108

)

(201

)

 

PC & Other

(32

)

24

 

7

 

15

 

(24

)

 

Mobile

(11

)

16

 

5

 

24

 

(16

)

 

Total change in deferred net revenue (online-enabled games) by platform1

(35

)

428

 

(131

)

(69

)

(241

)

 


Contacts

For additional information, please contact:

Chris Evenden
Vice President, Investor Relations
650-628-0255
cevenden@ea.com

John Reseburg
Vice President, Corporate Communications
650-628-3601
jreseburg@ea.com


Read full story here