Electronic Arts Inc., the creator of video games like EA Sports FIFA, reported record revenue for its fiscal fourth quarter, beating analysts’ estimates thanks to higher player engagement with franchises like its popular soccer title.
(Bloomberg) — Electronic Arts Inc., the creator of video games like EA Sports FIFA, reported record revenue for its fiscal fourth quarter, beating analysts’ estimates thanks to higher player engagement with franchises like its popular soccer title.
Quarterly bookings, or adjusted revenue, rose 11% to $1.95 billion, the Redwood City, California-based based publisher said Tuesday in a statement.
Analysts were expecting $1.73 billion on average, according to data compiled by Bloomberg.
Adjusted earnings rose to $1.77 a share for the quarter ended March 31, the company said, beating estimates of $1.31.
FIFA 23, released in September, achieved the most successful launch in the franchise’s history, the company said.
Quarterly net bookings for the franchise grew 31% year-over-year. EA is retiring its FIFA brand and launching its new soccer game, EA Sports FC, later this year.
“We’re excited to continue our momentum, including the highly anticipated launch of EA Sports FC later this year,” Chief Executive Officer Andrew Wilson said in the statement.
Revenue from live-services games, including FIFA, Apex Legends and The Sims, increased nearly 10% to $5.49 billion in the latest fiscal year.
Shares of EA rose as much as 3.5% to $129.80 in extended trading after the results were announced.
They closed little changed Tuesday in New York and are up 2.6% this year.
In April, EA launched Star Wars Jedi: Survivor to effusive reviews.
Bookings for the current fiscal first quarter are forecast at $1.5 billion to $1.6 billion, EA said.
For the year, it sees $7.3 billion to $7.7 billion.
(Updates shares in sixth paragraph.)
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