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Electronic Arts Q4 FY3/2024 Financial Results (Jan - Mar 2024) | $7.43 billions in Net Bookings and NFL up 6% for the FY

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Announcement of operating, financial highlights and metrics

“This year, EA delivered bigger, bolder world class entertainment that engaged and connected hundreds of millions of players and fans,” said Andrew Wilson, CEO of EA. “We will continue to build on this strong momentum through an incredible pipeline of new experiences, starting with College Football in FY25, positioning us for accelerated growth in FY26 and beyond.”
“EA’s FY24 was highlighted by record cash flow and strong earnings growth driven by EA SPORTS FC and Madden NFL,” said Stuart Canfield, CFO of EA. “With strong conviction in our future, we are announcing an expanded stock repurchase program. We look forward to sharing more about our longterm strategy and financial framework at our Investor Day this fall.”

Selected Operating Highlights and Metrics
  • Net bookings for FY24 was $7.430 billion, up 1% year-over-year (up 3% in constant currency).
  • Delivered 11 titles and over 600 content updates in the year, including four non-annual sports titles and the successful rebrand of EA SPORTS FC.
  • Our global football franchise grew net bookings by high-teens percent in FY24.
  • During FY24, our EA SPORTS Madden NFL franchise delivered record net bookings, up 6% year-over-year and double-digit growth in weekly average users for both Madden NFL 24 and Madden Mobile.

Selected Financial Highlights and Metrics
  • Net revenue for FY24 was $7.562 billion, up 2% year-over-year.
  • For FY24, net cash provided by operating activities was a fiscal year record $2.315 billion, up 49% year-over-year.
  • During FY24, EA returned $1.505 billion to stockholders through stock repurchases and dividends.
  • The board has authorized a new stock repurchase program of $5 billion over three years.

Note: Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

Dividend
EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on June 19, 2024 to stockholders of record as of the close of business on May 29, 2024.

Expectations for the current Fiscal Year

Business Outlook as of May 7th, 2024

Fourth Quarter Fiscal Year 2025 Expectations – Ending March 31, 2025

Financial outlook metrics:
  • Net revenue is expected to be approximately $7.100 billion to $7.500 billion.
    Change in deferred net revenue (online-enabled games) is expected to be approximately $200 million.
  • Net income is expected to be approximately $904 million to $1.085 billion.
  • Diluted earnings per share is expected to be approximately $3.34 to $4.00.
  • Operating cash flow is expected to be approximately $2.050 billion to $2.250 billion.
  • The Company estimates a share count of 271 million for purposes of calculating diluted earnings per share.

Operational metrics:
  • Net bookings is expected to be approximately $7.300 billion to $7.700 billion.

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A few slides from the Presentation

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Net bookings by composition and by platform

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FY3/24 Actuals, Q1 and FY3/25 Guidance

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Results Presentation
Official Electronic Arts Inc. IR website

Previous threads

FY3/2024

Q1 - https://www.installbaseforum.com/forums/threads/electronic-arts-fy24-q1.1835/
Q2 - https://www.installbaseforum.com/fo...ts-fc-24-over-14-5m-accounts-in-4-weeks.2083/
Q3 - https://www.installbaseforum.com/fo...s-nfl-and-fc-up-by-5-and-7-respectively.2355/

FY3/2023

Q2 - https://www.installbaseforum.com/forums/threads/electronic-arts-q2-fy3-2023-financial-results.1168/
Q3 - https://www.installbaseforum.com/forums/threads/electronic-arts-q3-fy3-2023-financial-results.1346/
Q4 - https://www.installbaseforum.com/forums/threads/electronic-arts-ea-q4-fy2023.1601/
 
To celebrate the Operating Cash flow record, EA will layoff 1000 developers and stream how one of these families die by starvation (stream not included in regular EA subscription plan)
 
Even if FIFA offered the license for below the old price EA probably wouldn't go back. What an own goal. FIFA let greed cloud their judgment.
 
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