Electronic Arts Reports Q4 and FY21 Financial Results | TechPowerUp Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fiscal fourth quarter and full year ended March 31, 2021. "Our teams have done incredible work over the last year to deliver amazing experiences during a very challenging time for everyone around the world," said Andrew Wilson, CEO of Electronic Arts. "With tremendous engagement across our portfolio, we delivered a record year for Electronic Arts. We're now accelerating in FY22, powered by expansion of our blockbuster franchises to more platforms and geographies, a deep pipeline of new content, and recent acquisitions that will be catalysts for further growth."
"EA delivered a strong quarter, driven by live services and Apex Legends' extraordinary performance. Apex steadily grew through the last year, driven by the games team and the content they are delivering," said COO and CFO Blake Jorgensen. "Looking forward, the momentum in our existing live services provides a solid foundation for FY22. Combined with a new Battlefield and our recent acquisitions, we expect net bookings growth in the high teens."
Selected Operating Highlights and Metrics
- Net bookings for fiscal 2021 was $6.190 billion, up 15% year-over-year, and over $600 million above original expectations.
- Delivered 13 new games and had more than 42 million new players join our network during the fiscal year.
- FIFA 21, life to date, has more than 25 million console/PC players.
- FIFA Ultimate Team players grew 16% year-over-year and FUT matches were up 180%.
- Apex Legends has more than 100 million players life to date on console/PC, and Season 8 had more than 12 million weekly average players.
- Record number of new players joined Madden NFL on console/PC during fiscal 21.
- The Sims 4, life to date, has almost 36 million players and delivered its sixth consecutive year of franchise growth.
Selected Financial Highlights and Metrics
- Net cash provided by operating activities was $371 million for the quarter and $1.934 billion for the fiscal year.
- EA repurchased 2.4 million shares for $325 million during the quarter, bringing the total for the fiscal year to 5.6 million shares for $729 million.
- EA paid a cash dividend of $0.17 per share during the quarter.
Dividend
- EA has declared a quarterly cash dividend of $0.17 per share of the Company's common stock. The dividend is payable on June 23, 2021 to shareholders of record as of the close of business on June 2, 2021.
A very good financial result in my opinion. With a lot of people staying home (and gaming) because of the pandemic I expected the company to show a good profit. Despite this I expected better Q1 results.
