EA Announces Financial Results & Net Bookings Record; Boasts Apex Legends Active Players Growth

EA Announces Financial Results & Net Bookings Record; Boasts Apex Legends Active Players Growth

Today Electronic Arts released its financial results for the third quarter of the fiscal year 2022, related to the period between October 1 and December 31, 2021.

You can find a summary of the publisher’s performance in the table below.

Both while net revenue increased year-on-year, net income dropped significantly.

The press release also includes the usual statement from chief executive officer Andrew Wilson.

“FY22 has been a year of outstanding growth for Electronic Arts, and we’re proud that our franchises were among the most-downloaded, most-played, and most popular titles over the last year and the holiday quarter. Our network of more than 540 million unique active accounts continues to expand, players are spending more time in our games, and with our amazing IP we are well-positioned for continued growth.”

Chief operating and financial officer Blake Jorgensen also provided a comment, boasting a record quarter for net bookings (which is a metric similar to revenue but adjusted to include online games).

“Q3 was the largest quarter in the company’s history for net bookings, underlying profitability and cash generation. Our portfolio approach will enable us to deliver organic growth in the double digits this year, continue to deliver strong cash flow, and provides a strong foundation for growth as we look to the future.”

We then get a list of highlights of the publisher’s performance and financial metrics for the quarter reiterating the 560 million active accounts for the EA player network and a 30% monthly active player growth for Apex Legends year-on-year.

  • Net bookings for the trailing twelve months was $7.254 billion, up 22% year-over-year.
  • Over the last year, the EA player network has grown to more than 540 million unique active accounts.
  • During FY22 to date, more than 180 million monthly active accounts on average engaged in our games across all platforms.
  • At quarter end, Apex Legends monthly active players were up more than 30% year-over-year.
  • Players are spending nearly 20% more time in our games in FY22 compared to the previous year.
  • Net cash provided by operating activities was a record $1.534 billion for the quarter and $1.826 billion for the trailing twelve months.
  • EA repurchased 2.4 million shares for $325 million during the quarter, bringing the total for the last twelve months to 9.4 million shares for $1.300 billion.
  • EA paid a cash dividend of $0.17 per share during the quarter.

If you’d like to compare, you can check out the results for the previous quarter, which were announced in November.

Source: https://twinfinite.net/2022/02/electronic-arts-results-q3-2022/

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