Electronic Arts (EA) recently released its earnings report for the third quarter of fiscal year 2024.
Electronic Arts (EA) recently released its earnings report for the third quarter of fiscal year 2024, covering the period ending December 31, 2023.
Despite modest growth, the company witnessed a significant increase in net income, surpassing its own expectations, as reported by gamingindustry.biz.
One of the key highlights contributing to this success was the performance of EA Sports FC 24, which exceeded expectations and led the company to a profitable quarter.
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13:08 - 26.01.2024
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19:29 - 06.01.2024
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EA FC 24: Strong Financial Performance
Revenue
EA reported total revenue of $1.95 billion, marking a 3% increase compared to the previous year.
Net Income
The company's net income saw a substantial rise, reaching $290 million, reflecting a remarkable 42% year-over-year growth.
Net Bookings
EA recorded net bookings of $2.37 billion, representing a 1% increase compared to the same period last year.
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15:06 - 27.09.2023
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Key Performance Indicator Growth
EA's flagship football series, EA Sports FC, delivered exceptional performance during the quarter, surpassing expectations.
Despite undergoing a rebranding process, with EA Sports FC replacing FIFA, the franchise managed to achieve a remarkable 7% year-over-year growth in net bookings.
The launch of EA Sports FC 24 in September 2023 marked the beginning of a new era for the franchise, following the departure from the FIFA brand.
EA remains committed to leveraging the strength of its portfolio while prioritizing investments in key growth areas.
The company's strategic focus includes maximizing multi-year growth opportunities and capitalizing on market trends.
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17:44 - 01.11.2023
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![EA FC 24: 5 things we learned from Gameplay Deep Dive Trailer [Review]](https://sportal365images.com/process/smp-images-production/ringier.africa/18072023/af4fd823-9870-416d-934a-c4c059888924.png?operations=fit(:350))
20:14 - 18.07.2023
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What next for EA?
Looking ahead, EA aims to build upon the momentum generated by EA Sports FC and other successful franchises.
The company expressed confidence in its ability to sustain growth and profitability, as evidenced by its upward revision of full-year forecasts.
Despite facing challenges such as declining full game sales, EA's strong performance in Q3 FY24 underscores its resilience and strategic foresight.
The success of EA Sports FC 24, coupled with robust live services revenues, has positioned the company for continued growth and success in the dynamic gaming industry.
In Q3, Electronic Arts (EA) achieved a milestone as its live services segment reached a new high, generating revenues of $1.71 billion, marking a 3% increase compared to the previous year.
Live services now constitute a significant portion, accounting for 73% of EA's total revenues.
On the other hand, sales from full game purchases experienced a decline, dropping by 5% year-over-year to $654 million.
This represents a notable 27% decrease compared to the third quarter two years prior.
During this quarter, EA released several major titles including NHL 24, UFC 5, and WRC 23.
This lineup differs from the previous year, which featured NHL 23 and Need for Speed Unbound, as well as the titles released two years ago, including NHL 22 and Battlefield 2042.
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10:59 - 14.07.2023
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16:07 - 22.12.2023
Alisha Lehmann unveils 'Be Brave' vanity kit in EA SPORTS FC 24 - A symbol of confidence and family bond"
Aston Villa's star player Alisha Lehmann has taken a significant step in blending fashion, personal expression, and football by launching her own 'Be Brave' vanity kit in EA SPORTS FC 24.
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