Wed, May 22, 8:14 PM (423 days ago)
Electronic Arts Inc. (EA) reported net revenue of $7,562 million for the fiscal year ended March 31, 2024, a 2% increase year-over-year. Live services and other net revenue were $5,547 million, up 1%, driven by extra content sales for EA SPORTS FC and Apex Legends. The company’s gross margin improved to 77.4%, with operating income rising 14% to $1,518 million. Net income was $1,273 million, translating to diluted earnings per share of $4.68. Operating expenses increased slightly by 1% to $4,334 million. EA's financial condition remains robust with $3,262 million in cash and short-term investments. The company repurchased 10 million shares for $1,300 million and paid $205 million in dividends. EA’s future outlook involves continued investment in live services and innovation across platforms, with a focus on expanding re-occurring revenue streams. Key risks include intense competition, reliance on major platforms, and evolving regulatory landscapes.