Electronic Arts (EA) has reported strong Q4 earnings for fiscal year 2022, with revenue up 19% YoY to $1.55bn. GAAP net income rose to $1.1bn, a significant increase from $177m last year. Non-GAAP net income was $1.63bn, up from $1.14bn a year ago. The live services sector also increased 1% to $1.49bn in Q4 due to the success of Apex Legends, which attracted more than 200 million players, and FIFA 22. EA expects its net bookings for FY 2023 to be between $7.85bn and $8.25bn due to its ability to attract and retain players through innovative games.

EA Posts Strong Q4 Results, Driven by FIFA 22 and Apex Legends

Electronic Arts (EA), the American video game company, has announced its earnings for the fourth quarter of fiscal year 2022, beating analysts’ estimates. The company’s revenue for the quarter rose to $1.55 billion, up 19% from the same period last year.

The Numbers

• GAAP net income was $1.1 billion, up from $177 million a year ago.
• Non-GAAP net income was $1.63 billion, up from $1.14 billion a year ago.
• Operating cash flow was $853 million, up from $726 million a year ago.
• EA paid $335 million in dividends to shareholders during the quarter.

“We had an incredible year, and our teams delivered outstanding entertainment experiences for our players,” said CEO Andrew Wilson in a press release. “FIFA 22 and Apex Legends led our growth in the quarter, and we’re excited about the new games we have in development for the coming year.”

Apex Legends Success

Apex Legends, the free-to-play first-person shooter game, continued to attract millions of players during the quarter. The game’s player base grew to more than 200 million, up from 100 million a year ago, thanks to the launch of new content and events. The game was also a major contributor to EA’s live services revenue, which increased by 1% to $1.49 billion in the quarter.

“Apex Legends continues to be a pillar of growth for Electronic Arts, and we’re committed to bringing a deep and innovative experience to our players,” said Wilson. “We’re excited about the launch of Season 10 later this year, which will introduce new challenges, rewards, and storylines to the game.”

FIFA 22 Strong Sales

FIFA 22, the latest installment in the FIFA series, also contributed to EA’s strong results. The game’s sales were driven by strong demand from players around the world, particularly in Europe and South America. FIFA 22 was also a major contributor to EA’s net bookings for the quarter, which increased by 19% to $1.7 billion compared to the same period last year.

“FIFA 22 has been a huge success for us, exceeding our expectations in terms of sales and engagement,” said Wilson. “We’re thrilled to see the enthusiasm from fans for our most authentic and immersive football experience yet.”

EA also announced that it expects its net bookings for fiscal year 2023 to be in the range of $7.85 billion to $8.25 billion, which represents an increase of 6% to 11% from the previous year.

Conclusion

Overall, EA’s strong results in the fourth quarter demonstrate the company’s ability to attract and retain players with engaging and innovative games. With the continued success of Apex Legends and FIFA 22, as well as new games in development, EA is well-positioned for growth in the coming year.