Electronic Arts reports June quarter hit $1.29B in bookings, down 2.7%

by | Aug 2, 2022 | Technology

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Electronic Arts reported earnings today for the first fiscal quarter ended June 30, as ongoing operations for existing EA Sports games like FIFA helped it through a quarter with smaller releases.

Net bookings for the quarter were $1.299 billion, down 2.7% from $1.336 billion a year ago and above the analyst consensus expectations of $1.26 billion. The slight decline compared to a year ago isn’t unusual, given the pandemic’s huge effect on games last year, as more people stayed inside and played more. Now that things have loosened somewhat, games have more competition.

“EA delivered strong results in Q1 with our growing player network deeply engaged in new games and live services,” said CEO Andrew Wilson, in a statement. “Our expanding EA Sports portfolio and owned IP franchises continue to power resilience and longevity in our business. Our teams remain focused on what they do best — making amazing experiences that inspire new generations to play, watch, create, compete and connect.”

In an analyst call, Wilson credited EA Sports and racing games as a growth center, showing that sports fandom is increasingly interactive, as he said “games are the social networks of the future.” He said F1 22 sales are up double digits to date from the launch.

“Sports is the ultimate ‘evergreen’ form of entertainment, and our new cross-media partnership with LaLiga perfectly illustrates how we continue to innovate at the forefront of sport, media, and interactive content.”

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