Today, Electronic Arts announced its financial results for the fourth quarter of fiscal year 2023, which covers the period between January 1st and March 31st.
According to the press release shared by EA, net sales for the year were $1.874 billion while the company posted a net loss of $12 million. While revenue was up, year-over-year revenue was down (obviously given that EA posted $225 million in profit in the previous fiscal year).
As is tradition, we get a statement from CEO Andrew Wilson, who boasted a “strong fourth quarter with record net bookings”.
EA delivered a strong fourth quarter with record net bookings up 11 percent year-on-year demonstrating the strength of our business. Our teams continue to create quality entertainment powered by amazing games and immersive live services. We look forward to continuing our momentum, including the highly anticipated release of EA SPORTS FC later this year.
We also hear more color from CFO Chris Suh, who spoke of record live service performance and better-than-expected net bookings.
Record live services performance and increased engagement, particularly from our EA SPORTS FIFA franchise, led to better than expected fourth quarter net bookings and capped a strong end to the fiscal year. Looking ahead, our teams remain disciplined and prioritize gaming experience while we continue to focus our investments on long-term growth.
The publisher shared a number of operational highlights including the fact that FIFA 23 has sold out fifa 22‘s lifetime sales in six months, Apex Legends grows, and The Sims 4 has reached 70 million players worldwide.
- net bookings for the fourth quarter was $1.946 billion, an increase of 11% over the prior year (an increase of 15% at constant currencies).
- live services and others net bookings for the fourth quarter was $1.622 billion, a record for the quarter, up 9% year over year (13% at constant currency) and accounting for 83% of total net bookings.
- The EA SPORTS FIFA Franchise: Q4 net bookings increased 31% year-on-year (up 37% at constant exchange rates).
- In the six months since launch, EA SPORTS FIFA 23 has surpassed EA SPORTS lifetime sales fifa 22making it the most successful launch in franchise history.
- Apex Legends delivered currency-neutral net bookings year-over-year growth in Q4, driven by a successful Season 16 with a +20% increase in weekly active peak users over the previous season.
- life to date, The Sims 4 The player network has grown to more than 70 million worldwide.
If you want to know more, you can compare today’s results with the previous quarter’s historical data, which Electronic Arts released in January.
