EA delivers solid quarter revenue results, driven by F1 and FIFA Ultimate Team

destructoid.com:

It’s the turn of long-time developer/publisher Electronic Arts to share its results from the most recent quarter of the 2023 financial year. And while many publishers are showing a slump in overall revenue, EA seems to be relatively healthy, powered by its ongoing dominance over the sporting game industry.

Overall revenue for EA is up 14% year-on-year, which translates to a meaty $1.77 billion USD. Net income is also up — offering a huge 52% rise which equates to $311 million. It will probably come as zero surprise that the FIFA franchise is still one of the aces in EA’s portfolio, with FIFA Mobile and microtransactions service FIFA Ultimate Team continuing to grow in both revenue and users. FUT has, notably, seen its user base rise by 40% in the past 12 months.

It also seems that EA’s purchase of Codemasters was a very savvy decision, as the UK developer’s F1 22 has actually outperformed on the publisher’s expectations. Codemasters was, of course, purchased by EA for $1.2 billion back in early 2021. EA was hoping that the acquisition would give it a dominant stake in the racing game market, and it seems that the British studio is already delivering on those hopes.

This year’s FIFA entry, FIFA 23, will be the final football sim released with the official FIFA branding. While EA has a huge task ahead in rebranding one of the biggest and most profitable gaming franchises on the planet, the community knows where its dedication lies, and it seems hugely unlikely that the loss of the FIFA brand will harm EA’s bottom line in the bigger picture.