Electronic Arts Reports Strong Q2 FY25 Results

October 29, 2024

Record Q2 net bookings driven by performance across EA SPORTS™ portfolio resulting in a raised full-year outlook

Electronic Arts (NASDAQ: EA) today announced preliminary financial results for its second quarter ended September 30, 2024.

“EA delivered another strong quarter with record Q2 net bookings, driven by our incredible teams, broad portfolio and technology leadership,” said Andrew Wilson, CEO of EA. “The momentum in our business reinforces our strategic vision to deliver innovative experiences and interactive entertainment that deepens and expands engagement across our global communities.”

“Q2 was another successful quarter for EA, exceeding the high end of our guidance range. As a result, we are also raising our FY25 outlook,” said Stuart Canfield, CFO of EA. “We remain confident in our ability to drive long-term value creation through increased scale, driving top-line growth, improved margins, and greater cash flow as shared at our Investor Day.”

Selected Operating Highlights and Metrics

  • Net bookings 1 for the quarter totaled $2.079 billion, setting a Q2 record and exceeding the high end of guidance range of $2.050 billion.
  • American Football is on track to exceed $1 billion in net bookings for FY25, with total hours played in Q2 up over 140% year over year, and we also saw new players in the community more than double year over year.
  • Through September, College Football 25 was the best-selling HD title in North America and gives EA three of the top ten HD bestsellers in North America.
  • Global Football saw live service growth across all platforms in Q2, and total franchise net bookings in FY25 are on track to grow over a record FY24.
  • The Sims™ 4 continues to expand, with more than 15 million players joining the game over the past year. Increased engagement led to higher-than-expected net bookings for the franchise in Q2.

Selected Financial Highlights and Metrics

  • Net revenue was $2.025 billion for the quarter.
  • Net cash provided by operating activities was $234 million for the quarter and $2.198 billion for the trailing twelve months.
  • EA repurchased 2.6 million shares for $375 million during the quarter under the stock repurchase program, bringing the total for the trailing twelve months to 10.2 million shares for $1.400 billion.

Dividend

EA has declared a quarterly cash dividend of $0.19 per share of the Company’s common stock. The dividend is payable on December 18, 2024 to stockholders of record as of the close of business on November 27, 2024.

Quarterly Financial Highlights

 

Three Months Ended

 

September 30,

(in $ millions, except per share amounts)

2024

 

2023

Full game

716

 

621

Live services and other

1,309

 

1,293

Total net revenue

2,025

 

1,914

 

 

 

 

Net income

294

 

399

Diluted earnings per share

1.11

 

1.47*

 

 

 

 

Operating cash flow

234

 

112

 

 

 

 

Value of shares repurchased

375

 

325

Number of shares repurchased

2.6

 

2.6

 

 

 

 

Cash dividend paid

51

 

51

* Diluted earnings per share includes $0.34 from a one-time non-cash tax benefit in second quarter ended September 30, 2023.

Trailing Twelve Months Financial Highlights

 

Twelve Months Ended

 

September 30,

(in $ millions)

2024

 

2023

Full game

1,917

 

2,058

Live services and other

5,492

 

5,535

Total net revenue

7,409

 

7,593

 

 

 

 

Net income

1,046

 

993

 

 

 

 

Operating cash flow

2,198

 

2,211

 

 

 

 

Value of shares repurchased

1,400

 

1,300

Number of shares repurchased

10.2

 

10.5

Operating Metric

The following is a calculation of our total net bookings 1 for the periods presented:

 

Three Months Ended
September 30,

 

Twelve Months Ended
September 30,

(in $ millions)

2024

 

2023

 

 

2024

 

 

2023

Total net revenue

2,025

 

1,914

 

 

7,409

 

 

7,593

Change in deferred net revenue (online-enabled games)

54

 

(94

)

 

(36

)

 

93

Total net bookings

2,079

 

1,820

 

 

7,373

 

 

7,686

Business Outlook as of October 29, 2024

Fiscal Year 2025 Expectations – Ending March 31, 2025

Financial outlook metrics:

  • Net revenue is expected to be approximately $7.400 billion to $7.700 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $100 million.
  • Net income is expected to be approximately $1.019 billion to $1.156 billion.
  • Diluted earnings per share is expected to be approximately $3.82 to $4.33.
  • Operating cash flow is expected to be approximately $2.075 billion to $2.275 billion.
  • The Company estimates a share count of 267 million for purposes of calculating diluted earnings per share.

Operational outlook metric:

  • Net bookings 1 is expected to be approximately $7.500 billion to $7.800 billion.

Third Quarter Fiscal Year 2025 Expectations – Ending December 31, 2024

Financial outlook metrics:

  • Net revenue is expected to be approximately $1.875 billion to $2.025 billion.
    • Change in deferred net revenue (online-enabled games) is expected to be approximately $525 million.
  • Net income is expected to be approximately $226 million to $270 million.
  • Diluted earnings per share is expected to be approximately $0.85 to $1.02.
  • The Company estimates a share count of 266 million for purposes of calculating diluted earnings per share.

Operational outlook metric:

  • Net bookings 1 is expected to be approximately $2.400 billion to $2.550 billion.

Conference Call and Supporting Documents

Electronic Arts will host a conference call on October 29, 2024 at 2:00 pm PT (5:00 pm ET) to review its results for the second fiscal quarter ended September 30, 2024 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 (888) 330-2446 (domestic) or (240) 789-2732 (international), using the conference code 5939891 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 November 5, 2024 at (800) 770-2030 (domestic) or (647) 362-9199 (international) using conference code 5939891. 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 October 29, 2024” and other information regarding EA's 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: 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 and trends; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; economic and geopolitical 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, 2024.

These forward-looking statements are current as of October 29, 2024. 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 September 30, 2024. 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 September 30, 2024.

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 2024, EA posted GAAP net revenue of approximately $7.6 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS FC™, Battlefield™, Apex Legends™, The Sims™, EA SPORTS™ Madden NFL, EA SPORTS™ College Football, Need for Speed™, Dragon Age™, Titanfall™, Plants vs. Zombies™ and EA SPORTS F1 ® . More information about EA is available at www.ea.com/news.

EA, EA SPORTS, EA SPORTS FC, Battlefield, Need for Speed, Apex Legends, The Sims, Dragon Age, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. 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.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

Six Months Ended
September 30,

 

 

 

2024

 

2023

 

 

2024

 

2023

Net revenue

2,025

 

1,914

 

 

3,685

 

3,838

Cost of revenue

456

 

456

 

 

719

 

824

Gross profit

1,569

 

1,458

 

 

2,966

 

3,014

Operating expenses:

 

 

 

 

 

 

 

Research and development

648

 

602

 

 

1,277

 

1,198

Marketing and sales

272

 

280

 

 

477

 

509

General and administrative

197

 

173

 

 

377

 

336

Amortization of intangibles

17

 

24

 

 

34

 

49

Restructuring

51

 

2

 

 

53

 

3

Total operating expenses

1,185

 

1,081

 

 

2,218

 

2,095

Operating income

384

 

377

 

 

748

 

919

Interest and other income (expense), net

15

 

14

 

 

45

 

28

Income before provision for (benefit from) income taxes

399

 

391

 

 

793

 

947

Provision for (benefit from) income taxes

105

 

(8

)

 

219

 

146

Net income

294

 

399

 

 

574

 

801

Earnings per share

 

 

 

 

 

 

 

Basic

1.11

 

1.47

 

 

2.17

 

2.94

Diluted

1.11

 

1.47

 

 

2.15

 

2.93

Number of shares used in computation

 

 

 

 

 

 

 

Basic

264

 

271

 

 

265

 

272

Diluted

266

 

272

 

 

267

 

273

Results (in $ millions, except per share data)

The following table reports the variance of the actuals versus our guidance provided on July 30, 2024 for the three months ended September 30, 2024 plus a comparison to the actuals for the three months ended September 30, 2023.

 

Three Months Ended September 30,

 

2024 Guidance
(Mid-Point)

 

 

 

2024 Actuals

 

2023 Actuals

 

 

Variance

 

 

Net revenue

 

 

 

 

 

 

 

Net revenue

1,950

 

 

75

 

 

2,025

 

 

1,914

 

GAAP-based financial data

 

 

 

 

 

 

 

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

50

 

 

4

 

 

54

 

 

(94

)

Cost of revenue

 

 

 

 

 

 

 

Cost of revenue

435

 

 

21

 

 

456

 

 

456

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

(10

)

 

 

 

(10

)

 

(15

)

Stock-based compensation

(5

)

 

1

 

 

(4

)

 

(2

)

Operating expenses

 

 

 

 

 

 

 

Operating expenses

1,195

 

 

(10

)

 

1,185

 

 

1,081

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

(20

)

 

3

 

 

(17

)

 

(24

)

Restructuring and related charges

(65

)

 

13

 

 

(52

)

 

 

Stock-based compensation

(160

)

 

(10

)

 

(170

)

 

(153

)

Income before tax

 

 

 

 

 

 

 

Income before tax

333

 

 

66

 

 

399

 

 

391

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

30

 

 

(3

)

 

27

 

 

39

 

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

50

 

 

4

 

 

54

 

 

(94

)

Restructuring and related charges

65

 

 

(13

)

 

52

 

 

 

Stock-based compensation

165

 

 

9

 

 

174

 

 

155

 

Tax rate used for management reporting

19

%

 

 

 

19

%

 

19

%

Earnings per share

 

 

 

 

 

 

 

Basic

0.86

 

 

0.25

 

 

1.11

 

 

1.47

 

Diluted

0.85

 

 

0.26

 

 

1.11

 

 

1.47

 

Number of shares used in computation

 

 

 

 

 

 

 

Basic

265

 

 

(1

)

 

264

 

 

271

 

Diluted

267

 

 

(1

)

 

266

 

 

272

 

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)

 

 

 

 

 

September 30, 2024

 

March 31, 2024 2

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

2,197

 

 

2,900

 

Short-term investments

366

 

 

362

 

Receivables, net

1,012

 

 

565

 

Other current assets

397

 

 

420

 

Total current assets

3,972

 

 

4,247

 

Property and equipment, net

578

 

 

578

 

Goodwill

5,381

 

 

5,379

 

Acquisition-related intangibles, net

346

 

 

400

 

Deferred income taxes, net

2,431

 

 

2,380

 

Other assets

428

 

 

436

 

TOTAL ASSETS

13,136

 

 

13,420

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable, accrued, and other current liabilities

1,312

 

 

1,276

 

Deferred net revenue (online-enabled games)

1,475

 

 

1,814

 

Total current liabilities

2,787

 

 

3,090

 

Senior notes, net

1,883

 

 

1,882

 

Income tax obligations

552

 

 

497

 

Other liabilities

506

 

 

438

 

Total liabilities

5,728

 

 

5,907

 

 

 

 

 

Stockholders’ equity:

 

 

 

Common stock

3

 

 

3

 

Retained earnings

7,520

 

 

7,582

 

Accumulated other comprehensive loss

(115

)

 

(72

)

Total stockholders’ equity

7,408

 

 

7,513

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

13,136

 

 

13,420

 

2 Derived from audited consolidated financial statements.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Cash Flows

(in $ millions)

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

Six Months Ended
September 30,

 

2024

 

 

2023

 

 

2024

 

 

2023

 

OPERATING ACTIVITIES

 

 

 

 

 

 

 

Net income

294

 

 

399

 

 

574

 

 

801

 

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

 

 

 

 

 

 

 

Depreciation, amortization, accretion and impairment

122

 

 

85

 

 

202

 

 

173

 

Stock-based compensation

174

 

 

155

 

 

317

 

 

285

 

Change in assets and liabilities

 

 

 

 

 

 

 

Receivables, net

(579

)

 

(534

)

 

(447

)

 

(367

)

Other assets

(78

)

 

(22

)

 

(20

)

 

74

 

Accounts payable, accrued, and other liabilities

275

 

 

(90

)

 

117

 

 

(200

)

Deferred income taxes, net

(37

)

 

201

 

 

(50

)

 

108

 

Deferred net revenue (online-enabled games)

63

 

 

(82

)

 

(339

)

 

(403

)

Net cash provided by operating activities

234

 

 

112

 

 

354

 

 

471

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

 

 

 

 

 

 

 

Capital expenditures

(50

)

 

(51

)

 

(117

)

 

(96

)

Proceeds from maturities and sales of short-term investments

111

 

 

151

 

 

239

 

 

302

 

Purchase of short-term investments

(107

)

 

(163

)

 

(237

)

 

(313

)

Net cash used in investing activities

(46

)

 

(63

)

 

(115

)

 

(107

)

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

Proceeds from issuance of common stock

42

 

 

40

 

 

42

 

 

40

 

Cash dividends paid

(51

)

 

(51

)

 

(101

)

 

(103

)

Cash paid to taxing authorities for shares withheld from employees

(18

)

 

(15

)

 

(139

)

 

(120

)

Common stock repurchases

(375

)

 

(325

)

 

(750

)

 

(650

)

Net cash used in financing activities

(402

)

 

(351

)

 

(948

)

 

(833

)

 

 

 

 

 

 

 

 

Effect of foreign exchange on cash and cash equivalents

11

 

 

(11

)

 

6

 

 

(9

)

Change in cash and cash equivalents

(203

)

 

(313

)

 

(703

)

 

(478

)

Beginning cash and cash equivalents

2,400

 

 

2,259

 

 

2,900

 

 

2,424

 

Ending cash and cash equivalents

2,197

 

 

1,946

 

 

2,197

 

 

1,946

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

YOY %

 

FY24

 

FY24

 

FY24

 

FY25

 

FY25

 

Change

Net revenue

 

 

 

 

 

 

 

 

 

 

 

Net revenue

1,914

 

 

1,945

 

 

1,779

 

 

1,660

 

 

2,025

 

 

6

%

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

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

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

Gross profit

1,458

 

 

1,416

 

 

1,422

 

 

1,397

 

 

1,569

 

 

8

%

Gross profit (as a % of net revenue)

76

%

 

73

%

 

80

%

 

84

%

 

78

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

15

 

 

16

 

 

29

 

 

10

 

 

10

 

 

 

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

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

Stock-based compensation

2

 

 

2

 

 

2

 

 

4

 

 

4

 

 

 

Operating income

 

 

 

 

 

 

 

 

 

 

 

Operating income

377

 

 

365

 

 

234

 

 

364

 

 

384

 

 

2

%

Operating income (as a % of net revenue)

20

%

 

19

%

 

13

%

 

22

%

 

19

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

39

 

 

37

 

 

101

 

 

27

 

 

27

 

 

 

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

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

Restructuring and related charges

 

 

 

 

61

 

 

6

 

 

52

 

 

 

Stock-based compensation

155

 

 

151

 

 

148

 

 

143

 

 

174

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

Net income

399

 

 

290

 

 

182

 

 

280

 

 

294

 

 

(26

%)

Net income (as a % of net revenue)

21

%

 

15

%

 

10

%

 

17

%

 

15

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

39

 

 

37

 

 

101

 

 

27

 

 

27

 

 

 

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

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

Restructuring and related charges

 

 

 

 

61

 

 

6

 

 

52

 

 

 

Stock-based compensation

155

 

 

151

 

 

148

 

 

143

 

 

174

 

 

 

Tax rate used for management reporting

19

%

 

19

%

 

19

%

 

19

%

 

19

%

 

 

Diluted earnings per share

1.47

 

 

1.07

 

 

0.67

 

 

1.04

 

 

1.11

 

 

(24

%)

Number of shares used in computation

 

 

 

 

 

 

 

 

 

 

 

Basic

271

 

 

269

 

 

267

 

 

266

 

 

264

 

 

 

Diluted

272

 

 

271

 

 

270

 

 

268

 

 

266

 

 

 

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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

YOY %

 

 

FY24

 

FY24

 

FY24

 

FY25

 

FY25

 

Change

QUARTERLY NET REVENUE PRESENTATIONS

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue by composition

 

 

 

 

 

 

 

 

 

 

 

 

Full game downloads

 

346

 

 

431

 

 

265

 

 

190

 

 

475

 

 

37

%

Packaged goods

 

275

 

 

187

 

 

68

 

 

60

 

 

241

 

 

(12

%)

Full game

 

621

 

 

618

 

 

333

 

 

250

 

 

716

 

 

15

%

Live services and other

 

1,293

 

 

1,327

 

 

1,446

 

 

1,410

 

 

1,309

 

 

1

%

Total net revenue

 

1,914

 

 

1,945

 

 

1,779

 

 

1,660

 

 

2,025

 

 

6

%

Full game

 

32

%

 

32

%

 

19

%

 

15

%

 

35

%

 

 

Live services and other

 

68

%

 

68

%

 

81

%

 

85

%

 

65

%

 

 

Total net revenue %

 

100

%

 

100

%

 

100

%

 

100

%

 

100

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

 

Full game downloads

 

24

 

 

32

 

 

(37

)

 

(47

)

 

70

 

 

 

Packaged goods

 

46

 

 

4

 

 

(37

)

 

(35

)

 

46

 

 

 

Full game

 

70

 

 

36

 

 

(74

)

 

(82

)

 

116

 

 

 

Live services and other

 

(164

)

 

385

 

 

(39

)

 

(316

)

 

(62

)

 

 

Total change in deferred net revenue (online-enabled games) by composition 1

 

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue by platform

 

 

 

 

 

 

 

 

 

 

 

 

Console

 

1,187

 

 

1,229

 

 

1,049

 

 

1,005

 

 

1,374

 

 

16

%

PC & Other

 

423

 

 

420

 

 

423

 

 

365

 

 

364

 

 

(14

%)

Mobile

 

304

 

 

296

 

 

307

 

 

290

 

 

287

 

 

(6

%)

Total net revenue

 

1,914

 

 

1,945

 

 

1,779

 

 

1,660

 

 

2,025

 

 

6

%

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

 

Console

 

(35

)

 

377

 

 

(94

)

 

(328

)

 

108

 

 

 

PC & Other

 

(34

)

 

33

 

 

(10

)

 

(70

)

 

(37

)

 

 

Mobile

 

(25

)

 

11

 

 

(9

)

 

 

 

(17

)

 

 

Total change in deferred net revenue (online-enabled games) by platform 1

 

(94

)

 

421

 

 

(113

)

 

(398

)

 

54

 

 

 

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)

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

YOY %

 

FY24

 

FY24

 

FY24

 

FY25

 

FY25

 

Change

CASH FLOW DATA

 

 

 

 

 

 

 

 

 

 

 

Investing cash flow

(63

)

 

(51

)

 

(49

)

 

(69

)

 

(46

)

 

 

Investing cash flow - TTM

(205

)

 

(195

)

 

(207

)

 

(232

)

 

(215

)

 

(5

%)