EA Sports is one of the leading American video game companies majorly known for developing and delivering games, content, and online services for Internet-connected consoles, mobile devices, and personal computers. Ea Sports is known for developing the world’s famous franchise games such as EA SPORTS FIFA, Battlefield, Apex Legends, The Sims, Madden NFL, Need for Speed, Titanfall, and Plants vs. Zombies, and many more. Each year or quarterly, the company discloses its financial results to showcase its growth and expectations in the coming years. Electronic Arts Inc. announced preliminary financial results for its fiscal fourth quarter and full-year ended March 31, 2021.
DATA AND METRICS
The fiscal year 2021 has been great for the company, as they got the net booking for $6.190 billion, up by 15% year-over-year, and over $600 million above original expectations. They had 13 new games launched this year, with the addition of 42 million new players during the fiscal year. FIFA 21 till date has more than 25 million consoles/PC players. FIFA Ultimate Team players grew 16% year-over-year and FUT matches were up 180%. Apex Legends Season 8 has more than 12 million weekly average players. Records broke in terms of the number of new players joining Madden NFL on console/PC during fiscal 21.
- Net cash provided by operating activities was $371 million for the quarter and $1.934 billion for the fiscal year.
- EA repurchased 2.4 million shares for $325 million during the quarter, bringing the total for the fiscal year to 5.6 million shares for $729 million.
- EA paid a cash dividend of $0.17 per share during the quarter.
EXPECTATIONS FOR FISCAL YEAR 2022
The company hopes to increase its data count in terms of finance and the number of new players joining them. The company expects net revenue of approximately $6.800 billion in the fiscal year 2022. In terms of net income, they expect it to reach approximately $390 million.
Andrew Wilson, CEO of Electronic Arts on their result,” Our teams have done incredible work over the last year to deliver amazing experiences during a very challenging time for everyone around the world, With tremendous engagement across our portfolio, we delivered a record year for Electronic Arts. We’re now accelerating in FY22, powered by the expansion of our blockbuster franchises to more platforms and geographies, a deep pipeline of new content, and recent acquisitions that will be catalysts for further growth.”