Electronic Arts (EA) saw net revenue remain steady at US$1.914 billion in its second quarter, the first accounts released by the video game giant since the launch of EA Sports FC 24.

Confirmed:

• Revenue similar to US$1.904 billion posted in last Q2
• Net income rises 33 per cent year-over-year (YoY) to US$399 million
• Net bookings up four per cent to US$1.82 billion
• Madden NFL franchise outperformed Q2 expectations, delivering net bookings growth of six per cent
• Total net bookings was US$1.82 billion, up four per cent 
• EA Sports FC 24 had over 14.5 million active accounts within the first four weeks of global launch

Context:

The company said it exceeded expectations on the strength of the EA Sports portfolio, including the EA Sports FC 24 title, which was initially released on 29th September and is the first soccer simulator from EA since its split with Fifa, ending a three-decade partnership. 

EA noted on an earnings call that EA Sports FC Mobile set new franchise records, with over two million people installing the game on the first day of launch, with more than US$5 million raked in for the first three days and over US$11 million in the opening ten days. 

Comment:

“We delivered a strong Q2 and successfully launched EA Sports FC, transforming one of the largest franchises in the world into a powerful, interactive platform for the future of football fandom,” said Andrew Wilson, chief executive of EA.

“Looking ahead, our incredible teams will continue to innovate and expand across our world-class IP, building experiences that entertain our massive online communities, celebrate fandom, and increase connection for our growing global player base.”

Coming next:

EA expects to post net revenue of between US$7.3 billion and US$7.7 billion for fiscal year 2024 (ending 31st March), with net income forecast to be between US$1.118 billion and US$1.273 billion

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