Today Electronic Arts announced its financial results for the first quarter of the fiscal year 2024, related to the period between April 1 and June 30, 2023.
The company recorded $1.578 billion in net bookings for the quarter, up 21% year-on-year.
Of these, 75% of the total ($1.177 billion, up 4% year-over-year) were from live services.
Net income was $402 million, up from $311 million in the same period last year.
As usual, the press release included the traditional statement from CEO Andrew Wilson, who boasted about the "record Q1" and mentioned that it was driven by EA Sports Fifa (which will become EA Sports FC with this year's installment) and Star Wars Jedi: Survivor.
EA delivered a record Q1, driven by strong momentum in EA SPORTS global football and Star Wars Jedi: Survivor. Our exceptional teams are creating innovative entertainment experiences across our multi-year pipeline, starting with the highly anticipated, culture defining titles Madden NFL 24 and EA SPORTS FC 24.
We also hear from CFO Stuart Canfield.
We had a strong start to the fiscal year, with net bookings growth of 21% year over year, highlighted by new releases, continued live services growth, healthy engagement, and new player acquisition. Looking ahead, our teams remain focused on delivering long-term growth and profitability.
We also hear that EA Sports Fifa delivered record revenue in Q1 for the franchise.
Star Wars Jedi: Survivor is also mentioned in the operating highlights, with EA mentioning that the company is seeing players spend more time in-game than in its predecessor.
If you'd like to dig deeper, you can compare today's results with historical data for the previous quarter, which Electronic Arts shared in May.
