EA has achieved ‘record’ Q1 financial results

EA says its first quarter financial results for its current fiscal year were its highest ever.

The company’s net bookings for the quarter were $1.578 billion, up 21% compared to the same period in the previous financial year.

Net bookings cover the net amount of products and services sold digitally or sold-in physically, and includes not just game sales but other income including licensing fees, merchandise and in-game ads.

According to EA, the main reason for the record-breaking period were the continuaing popularity of FIFA 23, and the release of Star Wars Jedi: Survivor.

“FIFA Ultimate Team engaged tens of millions of fans and daily average users grew 15%,” CEO Andrew Wilson said during an earnings call. “FIFA Mobile attracted over 65 million new players in the quarter alone. FIFA Online produced double-digit growth across monthly, weekly and daily average users.”

FIFA 23’s Q1 net bookings were also a record for the history of the franchise, with CFO Stuart Canfield saying it “further demonstrates the power and potential of a connected massive online community”.

“EA delivered a record Q1, driven by strong momentum in EA Sports global football and Star Wars Jedi: Survivor,” Wilson said in a prepared statement.

“Our exceptional teams are creating innovative entertainment experiences across our multi-year pipeline, starting with the highly anticipated, culture defining titles Madden NFL 24 and EA Sports FC 24.”

Canfield added: “We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition.

“Looking ahead, our teams remain focused on delivering long-term growth and profitability.”