Electronic Arts, Inc. ($EA) announced today the financial results for third quarter of the fiscal year 2021, ended on December 31, 2020
The company's stock market price slipped 7.6% after fourth quarter forecasts for fiscal year 2021 disappointed Wall Street investors' expectations.
However, EA posted revenue of $ 1.38 billion for the last quarter, higher than analysts' estimates of $ 1.32 billion.
Note that adjusted earnings were only 98 cents, which is below the $ 1 per share average forecast by Wall Street.
Add to this that EA reported $ 0.72 per share for its third quarter earnings for fiscal year 2021, producing a 39% year-over-year decline, while revenues increased 5% to 1.67 billion. dollars over the same period.
- Net revenue +5% YoY
- EA SPORTS involved more than 230 million people
- FIFA Ultimate Team 6 million active players per day in December
- FIFA21 coming March 17 on Google Stadia
- Expansion plans for titles EA SPORTS
- APEX Legends +30% of players YoY
- The Sims 4 involved more than 33 million players, reached an average daily, weekly and monthly player record in December
- Net revenue is expected to be around $ 5.6 trillion ($ 1.317 billion Q4)
- Net income is expected to be approximately $ 742 million
- Operating cash flow is expected to be approximately $ 1.850 billion
- Net bookings are expected to be around $ 6.075 billion (Q4 $ 1.375 billion)
Regarding the acquisition of Codemasters
- Increase EA's presence in the racing game
- Bring the talent of the gaming team, tech and IP to EA
Electronic Arts has also justified the increase in spending on the recovery of the historic IP now renamed "EA Sports College Football“, for which there is no release date yet, and the recent wave of hiring.
“We’re bringing great entertainment to hundreds of millions of people all over the world,”, said CEO Andrew Wilson.
“Our amazing teams continue to deliver exceptional, high-quality experiences as more players connect with their friends and engage deeply with our games. With our expansion plans for EA SPORTS, strong catalogue of owned IP, leading live services, and ability to span every platform, we are growing to reach an even larger audience.”
“We delivered another strong quarter, driven by live services outperformance in Ultimate Team and Apex Legends,”, said COO and CFO Blake Jorgensen.
“We are raising our net bookings outlook for the full year on the strength we continue to see in our business. Looking further ahead, even with the upside this year, we anticipate delivering growth in fiscal 2022, driven by the next Battlefield.”.
During the third quarter earnings conference for fiscal year 2021, Electronic Arts confirms that the next Battlefield, in development at EA DICE studio, will have a new level of destruction, huge maps, large-scale battles for multiple players simultaneously using the power of next-generation platforms.
Coming Holidays of 2021, the next BATTLEFIELD will be revealed this spring and will be released on PC and next-generation platforms PS5 and Xbox Series X|S, EA confirmed during the Q&A session.
PS4 and Xbox One weren't mentioned.
Electronic Arts also informs that more information on Dragon Age 4 in development by Bioware and upcoming projects on the Star Wars franchise from other studios will be discussed in the future.
The partnership between EA and LucasFilm Games for the Star Wars franchise is strong, as reiterated by Electronic Arts.
The next projects will be revealed in the future by
- Motive Studios (Star Wars Squadrons)
- Respawn, which also has its own Star Wars Team
- Bioware Austin (The Old Republic), which is working on several exciting top-secret projects
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