Today Electronic Arts announced its financial results for the fourth quarter of the fiscal year 2023, related to the period between January 1 and March 31.
According to the press release shared by EA, net revenue for the year was $1.874 billion, while the company recorded a $12 million net loss. While revenue was up, income was down year-on-year (obviously, since EA made a $225 million profit in the previous fiscal year)..
As is tradition, we get a statement from CEO Andrew Wilson, who boasted a "strong Q4 with record net bookings."
EA delivered a strong Q4 with record net bookings, up 11 percent year-over-year, demonstrating the strength of our business. Our teams continue to create high quality entertainment, fueled by amazing games and deeply engaging live services. We're excited to continue our momentum, including the highly anticipated launch of EA SPORTS FC later this year.
We also hear more color from CFO Chris Suh, who spoke about record live service performance and better-than-expected net bookings.
Record live services performance and increased engagement, particularly from our EA SPORTS FIFA franchise, drove better-than-expected Q4 net bookings, capping a strong finish to the fiscal yea. Looking ahead, our teams remain disciplined in prioritizing the player experience as we continue to focus our investments on long-term growth.
The publisher shared a batch of operating highlights, including the fact that FIFA 23 has outsold FIFA 22's lifetime sales in six months, Apex Legends is growing, and The Sims 4 has achieved 70 million players worldwide.
- Net bookings for Q4 was $1.946 billion, up 11% year-over-year (up 15% in constant currency).
- Live services and other net bookings for Q4 was $1.622 billion, a record for the quarter, up 9% year-over-year (up 13% in constant currency) and represented 83% of total net bookings.
- The EA SPORTS FIFA franchise Q4 net bookings grew 31% year-over-year (up 37% in constant currency).
- In the six months since launch, EA SPORTS FIFA 23 has surpassed life-time sales of EA SPORTS FIFA 22, becoming the most successful launch in franchise history.
- Apex Legends delivered net bookings growth in Q4 year-over-year at constant currency, driven by a successful Season 16 with peak weekly active users up over 20% from the previous season.
- Life-to-date, The Sims 4 player network has grown to more than 70 million worldwide.
If you'd like to know more, you can compare today's results with historical data for the previous quarter, which Electronic Arts shared in January.