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EA Reports $1.9 Billion in Revenue for Q2 2023-2024

Electronic Arts (EA) has announced its financial results for the second quarter of the 2023-2024 financial year, revealing a total revenue of $1.9 billion. This represents a 1% increase from the same period the previous year.

The revenue breakdown for Q2 2023-2024 is as follows:

- Full games: $621 million

- Downloads: $346 million (5% YoY increase)

- Packaged goods: $275 million (unchanged from the previous year)

- Live services and other interests: $1.293 billion (1% decrease compared to Q2 2022-2023)

Although EA reported overall success in the quarter, its mobile segment contributed only $304 million in revenue, marking a 5% decline from the same period the previous year. In contrast, EA's console segment was the most successful, generating nearly $1.2 billion, a 2% increase from the previous year.

Looking ahead, EA anticipates a strong third quarter, with net revenue expected to be in the range of $1.8 billion to $2 billion and net income between $203 million and $275 million.

For the full fiscal year, EA forecasts revenue between $7.3 billion and $7.7 billion, with net income ranging from $1.1 billion to $1.3 billion. CEO Andrew Wilson expressed optimism about the company's future, highlighting the successful launch of EA SPORTS FC and the company's continued efforts to innovate and expand its world-class intellectual property.

"We delivered a strong Q2 and successfully launched EA SPORTS FC, transforming one of the largest franchises in the world into a powerful, interactive platform for the future of football fandom," said CEO Andrew Wilson. "Looking ahead, our incredible teams will continue to innovate and expand across our world-class IP, building experiences that entertain our massive online communities, celebrate fandom, and increase connection for our growing global player base."

Source: adapted from an article by Chris James, CEO of Pocket Gamer

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