EA Q1 results exceed its expectations despite 30% drop in income

gamesindustry.biz:

Electronic Arts published its financials results for the first quarter of FY2025. Despite a decline across key metrics, the company said results were above its expectations, and is looking ahead to a promising Q2 following the successful release of EA Sports College Football 25, among others.

For three months ended June 30, 2024:

EA's net bookings declined 20% compared to the same period in the previous year, mostly due to a drop in full game sales (down 58% year-on-year). Live services held steady in comparison, only dropping 7% compared to Q1 FY24.

EA had few releases during the quarter: only EA Sports F1 24, and Surgent Studios' Tales of Kenzera: Zau, which reportedly didn't perform well, leading to cuts at the studio. In comparison, Q1 FY24 saw the launch of Star Wars: Jedi Survivor and PGA Tour among others, plus EA still benefitted at the time from a boost on its football titles thanks to the World Cup that had taken place in December 2023.

However, CFO Stuard Canfield said Q1 results were above the company's expectations, adding that EA should carry its momentum into the rest of the year following the successful launch of EA Sports College Football 25 last week, and titles like Madden NFL, EA Sports FC, and Dragon Age: The Veilguard coming up.

EA Sports College Football 25 gathered five million unique players during its first week, with 500,000 more playing via the EA Play trial. CEO Andrew Wilson said its launch represented a "monumental moment" for EA.

Meanwhile, EA Sports UFC Mobile saw record net bookings, the firm said, the Battlefield franchise reached a milestone of 25 million players .

In addition, the company noted that live services represented 75% of net bookings for the past 12 months.

CEO Andrew Wilson commented: "EA delivered a strong start to FY25, beating net bookings guidance as we continue to execute across our business. Our focus on delivering bigger, bolder, and more connected experiences for our players has never been sharper and is illustrated