We Inspire the World to Play

Press Release Details

View all news

Electronic Arts Reports Q3 FY22 Financial Results

February 1, 2022

Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its third fiscal quarter ended December 31, 2021.

“FY22 has been a year of outstanding growth for Electronic Arts, and we’re proud that our franchises were among the most-downloaded, most-played, and most popular titles over the last year and the holiday quarter,” said Andrew Wilson, CEO of Electronic Arts. “Our network of more than 540 million unique active accounts continues to expand, players are spending more time in our games, and with our amazing IP we are well-positioned for continued growth.”

“Q3 was the largest quarter in the company’s history for net bookings, underlying profitability and cash generation,” said CFO Blake Jorgensen. “Our portfolio approach will enable us to deliver organic growth in the double digits this year, continue to deliver strong cash flow, and provides a strong foundation for growth as we look to the future.”

Selected Operating Highlights and Metrics

  • Net bookings1 for the trailing twelve months was $7.254 billion, up 22% year-over-year.
  • Over the last year, the EA player network has grown to more than 540 million unique active accounts.
  • During FY22 to date, more than 180 million monthly active accounts on average engaged in our games across all platforms.
  • At quarter end, Apex Legends™ monthly active players were up more than 30% year-over-year.
  • Players are spending nearly 20% more time in our games in FY22 compared to the previous year.

Selected Financial Highlights and Metrics

  • Net cash provided by operating activities was a record $1.534 billion for the quarter and $1.826 billion for the trailing twelve months.
  • EA repurchased 2.4 million shares for $325 million during the quarter, bringing the total for the last twelve months to 9.4 million shares for $1.300 billion.
  • EA paid a cash dividend of $0.17 per share during the quarter.

Dividend

EA has declared a quarterly cash dividend of $0.17 per share of the Company’s common stock. The dividend is payable on March 23, 2022 to shareholders of record as of the close of business on March 9, 2022.

Quarterly Financial Highlights

 

Three Months Ended

December 31,

2021

 

2020

(in $ millions, except per share amounts)
Full game

616

722

Live services and other

1,173

951

Total net revenue

1,789

1,673

 
Net income

66

211

Diluted earnings per share

0.23

0.72

 
Operating cash flow

1,534

1,124

 
Value of shares repurchased

325

326

Number of shares repurchased

2.4

2.5

 

The following GAAP-based financial data2 and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Three Months Ended December 31, 2021

 

 

GAAP-Based Financial Data

(in $ millions)

Statement of
Operations

 

Acquisition-
related
expenses

 

Change in
deferred net
revenue
(online-enabled
games)

 

Stock-based
compensation

Total net revenue

1,789

 

-

 

788

 

-

 

Cost of revenue

631

 

(44

)

-

 

(1

)

Gross profit

1,158

 

44

 

788

 

1

 

Total operating expenses

1,056

 

(61

)

-

 

(128

)

Operating income

102

 

105

 

788

 

129

 

Interest and other income (expense), net

(11

)

-

 

-

 

-

 

Income before provision for income taxes

91

 

105

 

788

129

 

Number of shares used in computation:
Diluted

285

 

 

Trailing Twelve Months Financial Highlights

Twelve Months Ended

December 31,

2021

 

2020

(in $ millions)
Full game

1,805

1,719

Live services and other

4,707

3,951

Total net revenue

6,512

5,670

 
Net income

640

1,179

 
Operating cash flow

1,826

2,061

 
Value of shares repurchased

1,300

695

Number of shares repurchased

9.4

5.9

 

The following GAAP-based financial data2 and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Twelve Months Ended December 31, 2021

 

GAAP-Based Financial Data

(in $ millions)

Statement of
Operations

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-enabled
games)

Stock-based
compensation

Total net revenue

6,512

 

-

 

742

 

-

 

Cost of revenue

1,759

 

(92

)

-

 

(5

)

Gross profit

4,753

 

92

 

742

 

5

 

Total operating expenses

3,814

 

(145

)

-

 

(507

)

Operating income

939

 

237

 

742

 

512

 

Interest and other income (expense), net

(49

)

-

 

-

 

-

 

Income before provision for income taxes

890

 

237

 

742

512

 

 

Operating Metric

The following is a calculation of our total net bookings1 for the periods presented:

Three Months Ended

 

Twelve Months Ended

December 31,

 

December 31,

2021

 

2020

 

2021

 

2020

(in $ millions)
Total net revenue

1,789

1,673

6,512

5,670

Change in deferred net revenue (online-enabled games)

788

727

742

286

Net bookings

2,577

2,400

7,254

5,956

 

Business Outlook as of February 1, 2022

Our financial expectations for the quarter and fiscal year ending March 31, 2022 include estimates of the impact of our completed acquisitions on consolidated results and could be materially impacted as we integrate these acquisitions.

Fiscal Year 2022 Expectations – Ending March 31, 2022

Financial metrics:

  • Net revenue is expected to be approximately $6.925 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $600 million.
  • Net income is expected to be approximately $694 million.
  • Diluted earnings per share is expected to be approximately $2.43.
  • Operating cash flow is expected to be approximately $1.900 billion.
  • The Company estimates a share count of 286 million for purposes of calculating fiscal year 2022 diluted earnings per share.

Operational metric:

  • Net bookings1 is expected to be approximately $7.525 billion.

In addition, the following outlook for GAAP-based financial data2 and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Twelve Months Ending March 31, 2022

 

 

GAAP-Based Financial Data

GAAP
Guidance

 

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-enabled
games)

 

Stock-based
compensation

(in $ millions)
Total net revenue

6,925

 

-

 

600

 

-

 

Cost of revenue

1,844

 

(130

)

-

 

(5

)

Operating expense

4,048

 

(180

)

-

 

(525

)

Income before provision for income taxes

984

 

310

 

600

530

 

Net income

694

 

Number of shares used in computation:
Diluted shares

286

 

Fourth Quarter Fiscal Year 2022 Expectations – Ending March 31, 2022

Financial metrics:

  • Net revenue is expected to be approximately $1.759 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $2 million.
  • Net income is expected to be approximately $130 million.
  • Diluted earnings per share is expected to be approximately $0.46.
  • The Company estimates a share count of 284 million for purposes of calculating fourth quarter fiscal 2022 diluted earnings per share.

Operational metric:

  • Net bookings1 is expected to be approximately $1.761 billion.

In addition, the following outlook for GAAP-based financial data2 and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Three Months Ending March 31, 2022

 

 

GAAP-Based Financial Data

GAAP
Guidance

 

Acquisition-
related
expenses

 

Change in
deferred net
revenue
(online-enabled
games)

 

Stock-based
compensation

(in $ millions)
Total net revenue

1,759

 

-

 

2

 

-

 

Cost of revenue

404

 

(42

)

-

 

(1

)

Operating expense

1,086

 

(49

)

-

 

(126

)

Income before provision for income taxes

259

 

91

 

2

127

 

Net income

130

 

Number of shares used in computation:
Diluted shares

284

 

Conference Call and Supporting Documents

Electronic Arts will host a conference call on February 1, 2022 at 2:00 pm PT (5:00 pm ET) to review its results for the fiscal quarter ended December 31, 2021 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (866) 324-3683 (domestic) or (509) 844-0959 (international), using the conference code 4063695 or via webcast at EA’s IR Website at http://ir.ea.com.

EA has posted a slide presentation with a financial model of EA’s historical results and guidance on EA’s IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR Website.

A dial-in replay of the conference call will be available until February 15, 2022 at 855-859-2056 (domestic) or 404-537-3406 (international) using pin code 4063695. An audio webcast replay of the conference call will be available for one year on EA’s IR Website.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA’s expectations under the heading “Business Outlook as of February 1, 2022” and other information regarding EA's fiscal 2022 and other future expectations contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,” “will,” “may,” “likely,” “should,” “could” (and the negative of any of these terms), “future” and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements.

Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: the impact of the COVID-19 pandemic, sales of the Company’s products and services; the Company’s ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company’s sales and marketing programs; timely development and release of the Company’s products and services; the Company’s ability to realize the anticipated benefits of, and integrate, acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; general economic conditions; changes in our tax rates or tax laws; and other factors described in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

These forward-looking statements are current as of February 1, 2022. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts.

While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2021. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended December 31, 2021.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2021, EA posted GAAP net revenue of $5.6 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™, Plants vs. Zombies™ and F1®. More information about EA is available at www.ea.com/news.

EA SPORTS, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. STAR WARS © & TM 2015 Lucasfilm Ltd. All rights reserved. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission.

1

Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

 

2

For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2021.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
December 31,

 

Nine Months Ended
December 31,

 

 

 

 

 

2021

 

2020

 

2021

 

2020

Net revenue

1,789

 

1,673

 

5,166

 

4,283

 

Cost of revenue

631

 

601

 

1,440

 

1,175

 

Gross profit

1,158

 

1,072

 

3,726

 

3,108

 

Operating expenses:

 

 

 

 

Research and development

539

 

451

 

1,607

 

1,310

 

Marketing and sales

293

 

216

 

716

 

493

 

General and administrative

163

 

149

 

508

 

418

 

Amortization of intangibles

61

 

5

 

131

 

16

 

Total operating expenses

1,056

 

821

 

2,962

 

2,237

 

Operating income

102

 

251

 

764

 

871

 

Interest and other income (expense), net

(11

)

(6

)

(39

)

(19

)

Income before provision for income taxes

91

 

245

 

725

 

852

 

Provision for income taxes

25

 

34

 

161

 

91

 

Net income

66

 

211

 

564

 

761

 

Earnings per share

 

 

 

 

Basic

0.23

 

0.73

 

1.99

 

2.63

 

Diluted

0.23

 

0.72

 

1.97

 

2.61

 

Number of shares used in computation

 

 

 

 

Basic

283

 

290

 

284

 

289

 

Diluted

285

 

292

 

287

 

292

 

 

Results (in $ millions, except per share data)

The following table reports the variance of the actuals versus our guidance provided on November 3, 2021 for the three months ended December 31, 2021 plus a comparison to the actuals for the three months ended December 31, 2020.

 

Three Months Ended December 31,

 

2021

 

 

 

2021

 

2020

 

Guidance

 

Variance

 

Actuals

 

Actuals

Net revenue

 

 

 

 

Net revenue

1,750

 

39

 

1,789

 

1,673

 

GAAP-based financial data

 

 

 

 

Change in deferred net revenue (online-enabled games)1

875

 

(87

)

788

 

727

 

Cost of revenue

 

 

 

 

Cost of revenue

625

 

6

 

631

 

601

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

(50

)

6

 

(44

)

 

Stock-based compensation

 

(1

)

(1

)

(1

)

Operating expenses

 

 

 

 

Operating expenses

1,100

 

(44

)

1,056

 

821

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

(35

)

(26

)

(61

)

(5

)

Stock-based compensation

(135

)

7

 

(128

)

(110

)

Income before tax

 

 

 

 

Income before tax

8

 

83

 

91

 

245

 

GAAP-based financial data

 

 

 

 

Acquisition-related expenses

85

 

20

 

105

 

5

 

Change in deferred net revenue (online-enabled games)1

875

 

(87

)

788

 

727

 

Stock-based compensation

135

 

(6

)

129

 

111

 

Tax rate used for management reporting

18

%

 

18

%

18

%

Earnings per share

 

 

 

 

Basic

0.02

 

0.21

 

0.23

 

0.73

 

Diluted

0.02

 

0.21

 

0.23

 

0.72

 

Number of shares

 

 

 

 

Basic

284

 

(1

)

283

 

290

 

Diluted

287

 

(2

)

285

 

292

 

1

The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets

(in $ millions)

 

 

 

 

December 31, 2021

March 31, 20212

ASSETS

 

 

Current assets:

 

 

Cash and cash equivalents

2,670

5,260

 

Short-term investments

346

1,106

 

Receivables, net

965

521

 

Other current assets

377

326

 

Total current assets

4,358

7,213

 

Property and equipment, net

522

491

 

Goodwill

5,389

2,868

 

Acquisition-related intangibles, net

1,052

309

 

Deferred income taxes, net

2,130

2,045

 

Other assets

479

362

 

TOTAL ASSETS

13,930

13,288

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

Current liabilities:

 

 

Accounts payable

86

96

 

Accrued and other current liabilities

1,443

1,341

 

Deferred net revenue (online-enabled games)

2,101

1,527

 

Total current liabilities

3,630

2,964

 

Senior notes, net

1,878

1,876

 

Income tax obligations

326

315

 

Deferred income taxes, net

75

43

 

Other liabilities

404

250

 

Total liabilities

6,313

5,448

 

 

 

 

Stockholders’ equity:

 

 

Common stock

3

3

 

Retained earnings

7,608

7,887

 

Accumulated other comprehensive income (loss)

6

(50

)

Total stockholders’ equity

7,617

7,840

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

13,930

13,288

 

2

Derived from audited consolidated financial statements.

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Cash Flows

(in $ millions)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
December 31,

 

Nine Months Ended
December 31,

 

 

2021

 

2020

 

2021

 

2020

OPERATING ACTIVITIES

 

 

 

 

Net income

66

 

211

 

564

 

761

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation, amortization and accretion

146

 

46

 

345

 

123

 

Stock-based compensation

129

 

111

 

403

 

326

 

Change in assets and liabilities

 

 

 

 

Receivables, net

56

 

(348

)

(390

)

(309

)

Other assets

(24

)

85

 

(75

)

(28

)

Accounts payable

(51

)

(77

)

(9

)

29

 

Accrued and other liabilities

433

 

341

 

183

 

245

 

Deferred income taxes, net

 

14

 

(140

)

(18

)

Deferred net revenue (online-enabled games)

779

 

741

 

574

 

434

 

Net cash provided by operating activities

1,534

 

1,124

 

1,455

 

1,563

 

INVESTING ACTIVITIES

 

 

 

 

Capital expenditures

(48

)

(30

)

(135

)

(93

)

Proceeds from maturities and sales of short-term investments

65

 

670

 

1,193

 

2,088

 

Purchase of short-term investments

(69

)

(640

)

(438

)

(2,056

)

Acquisitions, net of cash acquired

3

 

 

(3,391

)

 

Net cash used in investing activities

(49

)

 

(2,771

)

(61

)

FINANCING ACTIVITIES

 

 

 

 

Proceeds from issuance of common stock

3

 

13

 

44

 

56

 

Cash dividends paid

(48

)

(49

)

(145

)

(49

)

Cash paid to taxing authorities for shares withheld from employees

(72

)

(67

)

(193

)

(144

)

Repurchase and retirement of common stock

(325

)

(326

)

(975

)

(404

)

Net cash used in financing activities

(442

)

(429

)

(1,269

)

(541

)

Effect of foreign exchange on cash and cash equivalents

(3

)

18

 

(5

)

43

 

Change in cash and cash equivalents

1,040

 

713

 

(2,590

)

1,004

 

Beginning cash and cash equivalents

1,630

 

4,059

 

5,260

 

3,768

 

Ending cash and cash equivalents

2,670

 

4,772

 

2,670

 

4,772

 

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

YOY %

 

 

FY21

 

FY21

 

FY22

 

FY22

 

FY22

 

Change

Net revenue

 

 

 

 

 

 

Net revenue

1,673

 

1,346

 

1,551

 

1,826

 

1,789

 

7

%

GAAP-based financial data

 

 

 

 

 

 

Change in deferred net revenue (online-enabled games)1

727

 

144

 

(215

)

25

 

788

 

 

Gross profit

 

 

 

 

 

 

Gross profit

1,072

 

1,027

 

1,236

 

1,332

 

1,158

 

8

%

Gross profit (as a % of net revenue)

64

%

76

%

80

%

73

%

65

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

 

4

 

22

 

22

 

44

 

 

Change in deferred net revenue (online-enabled games)1

727

 

144

 

(215

)

25

 

788

 

 

Stock-based compensation

1

 

1

 

1

 

2

 

1

 

 

Operating income

 

 

 

 

 

 

Operating income

251

 

175

 

322

 

340

 

102

 

(59

%)

Operating income (as a % of net revenue)

15

%

13

%

21

%

19

%

6

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

5

 

18

 

62

 

52

 

105

 

 

Change in deferred net revenue (online-enabled games)1

727

 

144

 

(215

)

25

 

788

 

 

Stock-based compensation

111

 

109

 

125

 

149

 

129

 

 

Net income

 

 

 

 

 

 

Net income

211

 

76

 

204

 

294

 

66

 

(69

%)

Net income (as a % of net revenue)

13

%

6

%

13

%

16

%

4

%

 

GAAP-based financial data

 

 

 

 

 

 

Acquisition-related expenses

5

 

18

 

62

 

52

 

105

 

 

Change in deferred net revenue (online-enabled games)1

727

 

144

 

(215

)

25

 

788

 

 

Stock-based compensation

111

 

109

 

125

 

149

 

129

 

 

Tax rate used for management reporting

18

%

18

%

18

%

18

%

18

%

 

Diluted earnings per share

0.72

 

0.26

 

0.71

 

1.02

 

0.23

 

(68

%)

Number of diluted shares used in computation

 

 

 

 

 

 

Basic

290

 

288

 

286

 

285

 

283

 

 

Diluted

292

 

290

 

289

 

287

 

285

 

 

1

The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

YOY %

 

 

FY21

 

FY21

 

FY22

 

FY22

 

FY22

 

Change

QUARTERLY NET REVENUE PRESENTATIONS

 

 

 

 

 

 

Net revenue by composition

 

 

 

 

 

 

Full game downloads

347

 

185

 

233

 

337

 

400

 

15

%

Packaged goods

375

 

65

 

89

 

280

 

216

 

(42

%)

Full game

722

 

250

 

322

 

617

 

616

 

(15

%)

Live services and other

951

 

1,096

 

1,229

 

1,209

 

1,173

 

23

%

Total net revenue

1,673

 

1,346

 

1,551

 

1,826

 

1,789

 

7

%

Full game

43

%

19

%

21

%

34

%

34

%

 

Live services and other

57

%

81

%

79

%

66

%

66

%

 

Total net revenue %

100

%

100

%

100

%

100

%

100

%

 

GAAP-based financial data

 

 

 

Full game downloads

53

 

(19

)

(5

)

35

 

179

 

 

Packaged goods

83

 

(44

)

(35

)

44

 

105

 

 

Full game

136

 

(63

)

(40

)

79

 

284

 

 

Live services and other

591

 

207

 

(175

)

(54

)

504

 

 

Total change in deferred net revenue (online-enabled games) by composition1

727

 

144

 

(215

)

25

 

788

 

 

 

 

 

 

 

 

 

Net revenue by platform

 

 

 

 

 

 

Console

1,191

 

879

 

972

 

1,198

 

1,138

 

(4

%)

PC & Other

326

 

295

 

361

 

377

 

374

 

15

%

Mobile

156

 

172

 

218

 

251

 

277

 

78

%

Total net revenue

1,673

 

1,346

 

1,551

 

1,826

 

1,789

 

7

%

GAAP-based financial data

 

 

 

Console

619

 

71

 

(278

)

(29

)

608

 

 

PC & Other

73

 

51

 

9

 

26

 

137

 

 

Mobile

35

 

22

 

54

 

28

 

43

 

 

Total change in deferred net revenue (online-enabled games) by platform1

727

 

144

 

(215

)

25

 

788

 

 

1

The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

YOY %

 

 

FY21

 

FY21

 

FY22

 

FY22

 

FY22

 

Change

CASH FLOW DATA

 

 

 

 

 

 

Operating cash flow

1,124

371

(143

)

64

1,534

36

%

Operating cash flow - TTM

2,061

1,934

1,413

 

1,416

1,826

(11

%)

Capital expenditures

30

31

44

 

43

48

60

%

Capital expenditures - TTM

133

124

130

 

148

166

25

%

Repurchase and retirement of common stock

326

325

325

 

325

325

%

Cash dividends paid

49

49

49

 

48

48

(2

%)

DEPRECIATION

 

 

 

 

 

 

Depreciation expense

37

38

40

 

39

41

11

%

BALANCE SHEET DATA

 

 

 

 

 

 

Cash and cash equivalents

4,772

5,260

2,838

 

1,630

2,670

 

Short-term investments

1,938

1,106

881

 

342

346

 

Cash and cash equivalents, and short-term investments

6,710

6,366

3,719

 

1,972

3,016

(55

%)

Receivables, net

778

521

557

 

1,031

965

24

%

STOCK-BASED COMPENSATION

 

 

 

 

 

 

Cost of revenue

1

1

1

 

2

1

 

Research and development

74

71

85

 

101

86

 

Marketing and sales

11

12

12

 

15

14

 

General and administrative

25

25

27

 

31

28

 

Total stock-based compensation

111

109

125

 

149

129

 

Category: Company News

Chris Evenden
Vice President, Investor Relations
650-628-0255
cevenden@ea.com

John Reseburg
Vice President, Global Communications
650-628-3601
jreseburg@ea.com

Source: Electronic Arts Inc.
Categories: Press Releases
View all news