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Electronic Arts Reports Strong Q1 FY21 Financial Results

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2020/08/01 08:53:02 (permalink)
https://www.marketwatch.com/press-release/electronic-arts-reports-strong-q1-fy21-financial-results-2020-07-30
 
Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its first fiscal quarter ended June 30, 2020. "This was an extraordinary quarter, and we're deeply proud of everything our teams at Electronic Arts are doing for our players and communities," said CEO Andrew Wilson. "We launched new games, deeply engaged players in our live services, and welcomed tens of millions of new players to our network. It was an unprecedented first quarter of growth in our business, and we will continue building on that strength with more innovative experiences, more groundbreaking content, and more ways to connect with friends and play great games throughout the year."

"Player engagement through the first quarter was exceptionally high, and well above our forecast," said COO and CFO Blake Jorgensen. "Our Stay Home, Play Together initiatives have been a strong tailwind for the business, as players look for safe and social entertainment in these difficult times. We are focused on delivering high quality titles for our players, combined with our incredible ongoing live services and increasing reach across platforms and geographies which should continue to expand our business over time."
 
  • Net bookings for the trailing twelve months was $5.980 billion, up 17% year-over-year.
  • Launched Command & Conquer Remastered and Burnout Paradise Remastered during the quarter.
  • During the quarter, EA delivered over 30 new content updates, including two major game expansions, and more than 50 mobile updates.
  • Launched nearly 30 titles on the Steam platform during the quarter.
  • During the quarter, Apex Legends launched Season 5 with engagement reaching its highest levels since Season 1.
  • During the quarter, player acquisition for FIFA was up more than 100% year-over-year and up nearly 140% year-over-year in Madden NFL.
  • Life to date, The Sims 4 has more than 30 million players across all platforms; daily, weekly, and monthly active player totals reached record highs for a first quarter.
Personally I believe that with many people staying at home due to the Corona virus many game companies are showing better profits. 

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