Bucking the trend, Electronic Arts delivered rising earnings in the past fiscal quarter. Above all, the “FIFA” and “F1” brands are proving to be crisis-proof.
Many publishers have had to concede declining numbers in recent annual reports, which has usually been attributed to the end of the COVID-19-induced home entertainment boom. Electronic Arts was able to record a contrary trend.
The company announced results for the first quarter of the current fiscal year (April to June 2022) this week. It delivered sales and profit growth, which was achieved thanks to the performance of the “F1” and “FIFA” brands.
Q1 2022 in figures:
- Revenue: $1.77 billion (up 14 percent year-on-year)
- Bookings: $1.3 billion (down 3 percent)
- Net Income: $311 million (up 52 percent)
“Our FIFA franchise and the successful launch of F1 have exceeded our net bookings and given us another quarter above expectations,” said EA CFO Chris Suh in the course of the announcement of the latest financial results.
More traffic to FIFA
One of the triggers was a growing involvement in a number of FIFA activities. “FIFA Mobile”, for example, recorded a record number of daily active users in the first quarter. FIFA Ultimate Team saw a 40% increase in average daily and weekly player count compared to last year. Record-breaking progress was also made in “FIFA Online” without a number being mentioned.
Another driving force was the “F1” series, which has belonged to the EA Group since the acquisition of Codemasters. It beat EA’s expectations in terms of net bookings last quarter. The acquisition of Golf Clash developer Playdemic also had a positive impact.
More Electronic Arts news:
Companywide, Electronic Arts now has 600 million active EA accounts, up 3 percent from the previous quarter. The company also announced a quarterly cash dividend of $0.19 per share. It is to be paid out to shareholders in the coming month.
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