Today Electronic Arts announced its financial results for the third quarter of the fiscal year 2023, related to the period between October 1, 2022, and December 31, 2022.
According to the company's press release, net revenue for the quarter was $1,881 million dollar, up year-on-year from $1,789 million. Net income was $204 million, up from 66 million.
You can check out a comparative table below.
As usual, we get a statement from CEO Andrew Wilson, who boasted record engagement for some of the company's biggest franchises.
“In Q3, EA delivered high-quality experiences, driving record engagement across some of our biggest franchises and growing our player network. While our teams delivered for our players, the current macro environment impacted Q3 results. As we navigate the short-term, we're focused on building for the long-term and remain confident about our future. With amazing talent, proven IP and growing player network, EA is operating from a position of strength.”
Ae also hear from CFO Chris Suh.
“As market uncertainty mounted during the quarter, we took measures to protect underlying profitability. We are prioritizing the player experience, directing investment to where it can have the most positive impact for our players and on growth.”
Among the news shared by Electronic Arts is the delay of Star Wars Jedi: Survivor to April 28, 2023, and the upcoming shutdown of Apex Legends Mobile citing the impossibility to maintain a high-quality experience. The game will close on May 1, 2023. It's worth mentioning that this won't affect the wildly successful main version of the game. On top of that, development on the Battlefield Mobile game has also ceased.
We also get a series of operating highlights, including a record quarter for The Sims 4.
- Net bookings for the trailing twelve months was $7.146 billion, down 1% year-over-year.
- Live services and other net bookings for the trailing twelve months were up 4% year-over-year and represent 75% of total net bookings.
- The EA player network grew to more than 650 million at quarter end.
- EA SPORTS FIFA 23 is pacing to be the biggest title in franchise history and delivered record engagement in Q3.
- Our teams delivered two AAA titles, NHL 23 and Need for Speed Unbound, at quality, and provided 128 content updates across 36 titles.
- The Sims welcomed over 10 million new players into the community during the quarter, with daily active users, weekly active users and monthly active users all up double digits year-over-year.
