Electronic Arts Reports Q4 and Full Year FY19 Financial Results
Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth fiscal quarter and fiscal year ended March 31, 2019.
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“FY20 will be a year of continued growth for our industry, and we’re excited to bring more great entertainment to the expanding audience around the world,” said CEO Andrew Wilson. “Players are engaging with games in more ways than ever before. We’re committed to meeting them where they are with a broad portfolio of amazing new games and live services, choice of engagement models including free-to-play and subscriptions, and new opportunities to play, compete and watch.”
“We ended our fiscal year with strong growth, driven by our live services business which continued to provide a very large, stable and profitable source of net bookings,” said COO and CFO Blake Jorgensen. “Looking ahead, we will bring games to an extraordinary variety of players in fiscal 2020 and deliver on our commitment to players with deep live services content for Ultimate Team, Apex Legends, The Sims 4, Anthem and Battlefield V.”
Selected Operating Highlights and Metrics
- Digital net bookings* for the trailing twelve months was $3.722 billion, up 5% year-over-year and represents 75% of total net bookings.
- During the quarter, launched two new original IP titles, Apex LegendsTM and AnthemTM.
- During the quarter, launched Firestorm battle royale in Battlefield TM V, the biggest BattlefieldTM live service event ever.
- In FY19, more than 45 million unique players engaged in FIFA 19 and FIFA 18 on console and PC.
- In FY19, active players in The Sims TM 4 increased by 35% year-over-year.
* 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 and, for periods after the fourth quarter of fiscal 2018, mobile platform fees.
Selected Financial Highlights and Metrics
All financial measures are presented on a GAAP basis.
- Net cash from operating activities was $599 million for the quarter and $1.547 billion for the trailing twelve months.
- EA repurchased 3.2 million shares for $301 million during the quarter and 11.0 million shares for $1.192 billion during the trailing twelve months.
Impact of Recently Adopted Accounting Standard