Electronic Arts (EA) has reported its financial results for Q3 2024, showing declines in revenue and net bookings. CEO Andrew Wilson acknowledged the shortfall, citing the “temporary underperformance” of EA Sports FC 25.
Key Financials:
- Revenue: $1.883 billion (down 3% YoY)
- Net income: $293 million (up 1% YoY)
- Net bookings: $2.22 billion (down 6% YoY)
- Net cash provided by operating activities was $1.176 billion for the quarter and $2.110 billion for the trailing twelve months.
Wilson noted that while EA Sports FC 25 had a “high-quality and stable launch” in September, it faced a “mid-single-digit decline” in Q3 due to players sticking with older titles and engagement issues. However, a January 16 update and the Team of the Year event saw a “strong response” and improved retention.
Dragon Age: The Veilguard, which launched in October, also underperformed financially. Wilson attributed this to the game not “resonat[ing] with a broad-enough audience in this highly competitive market.”
Looking ahead, EA is optimistic. “As we build on this momentum across EA, we are confident in a return to growth in FY26 and beyond,” Wilson said.
The company is also prioritizing resource allocation, with CFO Stuart Canfield emphasizing a focus on “our most significant and highest-potential opportunities.”
EA continues to invest in stockholder returns, repurchasing 2.4 million shares in Q3 and planning an accelerated $1 billion buyback.
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