EA's Financial Reports Released: Game-services Dominate Business, New Battlefield Not Before 2025
Electronic Arts has released its financial report for the last quarter of 2023. Revenues were up and games-services dominated.
Electronic Arts has released the financial report summarizing the third quarter of fiscal year 2024 (i.e. the period from October 1 to December 31, 2023). During this time, net revenues of USD 2.366 billion were generated, which means an increase of 1% compared to 2022. For the entire calendar year 2023, the company achieved revenues of $7.71 billion, which is also an increase, this time by 8%, compared to the previous year
It's worth noting that EA provides so-called "Net bookings" refers to the total earnings from the sale of digital and physical products, considering the revenue difference from service games compared to the previous period.
Dominance of GaaS
Microtransactions and online games are largely responsible for such impressive results. They generated 1.712 trillion dollars (3% more than in the same period last year), which constitutes as much as 73% of total revenues from the third quarter. For comparison, the company earned $654 million from the sales of full versions of games (5% less than in the same period last year). It's still a handsome sum, but the difference of 1.058 billion is definitely a gap.
The report also included stats related to EA Sports FC 24 and Madden NFL 24. The first title can boast of exceeding the company's expectations, generating 7% more revenue than the corresponding FIFA-series product released in the same period last year. For Madden, the increase was 5%.
Consoles are still leading
There should be no surprises regarding the revenues generated by individual platforms. Consoles remain the leader, accounting for $1.606 billion, or as much as 68% of the total amount. In second place were PCs et al. ($453 million), with mobile devices at the bottom of the podium ($307 million).
New Battlefield in 2025 at the earliest
At the earnings conference, Electronic Arts CEO Andrew Wilson also shared information regarding the future of the Battlefield series. He conveyed that the company is currently focusing on the 7th season of Battlefield 2042, and the release of the new installment is planned after the end of fiscal 2025 (i.e. March 31, 2025). This means that fans must be patient, as we can expect the next Battlefield in April 2025 at the earliest. It's worth mentioning that the same applies to the new installment of The Sims series.
