Electronic Arts (EA) is a global leader in digital interactive entertainment, specializing in the development, marketing, publishing, and delivery of games, content, and services for game consoles, PCs, mobile phones, and tablets . EA's offerings include a diverse portfolio of intellectual property, featuring both wholly owned brands like Apex Legends, Battlefield, and The Sims, as well as licensed brands such as EA SPORTS FC and EA SPORTS Madden NFL . The company generates significant revenue through its live services, which provide additional content, subscription offerings, and other revenue streams beyond the sale of full games .
- Live Services - Provides extra content, subscription offerings, and other revenue streams, significantly contributing to EA's overall revenue.
- Wholly Owned Brands - Develops and markets popular game franchises such as Apex Legends, Battlefield, and The Sims, engaging global online communities.
- Licensed Brands - Offers games under licensed brands like EA SPORTS FC and EA SPORTS Madden NFL, focusing on annualized sports titles.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew Wilson ExecutiveBoard | CEO, Chair of the Board | Chair of the Board, World Surf League; Board of Trustees, Paley Center for Media | Andrew Wilson has been with EA since 2000 and CEO since 2013. He has shaped EA's strategic vision and governance, focusing on innovation in gaming. | View Report → |
Eric Kelly Executive | Senior Vice President and Chief Accounting Officer | None | Eric Kelly joined EA in 2003 and became Chief Accounting Officer in 2021, overseeing financial operations. | |
Jacob Schatz Executive | EVP of Global Affairs, Chief Legal Officer, Corporate Secretary | None | Jacob Schatz has been with EA since 1999, leading the legal function since 2014. | |
Laura Miele Executive | President of EA Entertainment, Technology & Central Development | None | Laura Miele joined EA in 1996 and has held various leadership roles. She oversees game development and technology. | |
Mala Singh Executive | Chief People Officer | Board of Directors, Sovos Brands | Mala Singh rejoined EA in 2016 as CPO, focusing on diversity and inclusion. | |
Stuart Canfield Executive | Executive Vice President and CFO | None | Stuart Canfield joined EA in 2003 and became CFO in 2023. He has led financial strategy and planning at EA. | |
Heidi J. Ueberroth Board | Director | President of Globicon; Chair/Co-Chair of Pebble Beach Company; Board Member at Stillwater Growth Corp. | Heidi J. Ueberroth has been a director since 2017, with expertise in sports, media, and entertainment. | |
Jeffrey T. Huber Board | Independent Director | Founder and Managing Partner, Triatomic Capital; Board member of Upstart, Inc. and Zapata Computing, Inc. | Jeffrey T. Huber has been a director since 2009, with expertise in technology and cybersecurity. | |
Kofi A. Bruce Board | Director, Chair of the Audit Committee | CFO, General Mills, Inc. | Kofi A. Bruce joined EA's Board in 2021, bringing financial expertise and oversight to the Audit Committee. | |
Luis A. Ubiñas Board | Lead Independent Director | Board Member at AT&T Inc. and Tanger Factory Outlet Centers Inc.; Trustee at Mercer Funds | Luis A. Ubiñas has been a director since 2010, with a focus on governance and ESG initiatives. | |
Rachel A. Gonzalez Board | Independent Director | General Counsel, GE Vernova Inc. | Rachel A. Gonzalez has been an Independent Director at EA since 2021, serving on the Nominating and Governance Committee and the Compensation Committee. | |
Richard A. Simonson Board | Director | Managing Partner, Specie Mesa L.L.C.; Board Member at Couchbase, Inc. and Evercommerce, Inc. | Richard A. Simonson has been a director since 2006, providing financial and governance expertise. | |
Talbott Roche Board | Independent Director, Chair of the Compensation Committee | President and CEO, Blackhawk Network Holdings, Inc. | Talbott Roche has been a director since 2016, focusing on governance and compensation strategies. |
- Can you elaborate on the factors that influence your decision to release games on both previous and current-generation consoles, particularly for major franchises like college football and Madden NFL, where some features are only available on Gen 9?
- Considering the sluggish growth trends in the industry over the past few years, what external dynamics do you believe are impacting demand, and how might these turn into catalysts for future growth?
- With the ongoing video game actors' strike, how do you assess the potential risk of disruption to your business in the near term, and at what point could this start affecting your release schedule?
- Regarding the Sims franchise as one of your tentpole brands, what specific strategies are you implementing to drive growth, such as reducing friction to bring in more players or expanding onto other platforms?
- How has your thinking evolved on free-to-play as a monetization strategy in the HD gaming market versus the multimodal monetization success you've experienced with EA Sports, and do you feel free-to-play has been dilutive to industry pricing power or gamers' perception of value?
Research analysts who have asked questions during ELECTRONIC ARTS earnings calls.
Andrew Marok
Raymond James Financial
4 questions for EA
Christopher Schoell
UBS
3 questions for EA
Douglas Creutz
TD Cowen
3 questions for EA
Eric Handler
Roth Capital Partners, LLC
3 questions for EA
Colin Sebastian
Baird
2 questions for EA
Eric Sheridan
Goldman Sachs
2 questions for EA
James Heaney
Jefferies
2 questions for EA
Clayton Griffin
MoffettNathanson
1 question for EA
Cory Carpenter
JPMorgan Chase & Co.
1 question for EA
Doug Creutz
TD Cowen
1 question for EA
Matthew Cost
Morgan Stanley
1 question for EA
Michael Hickey
The Benchmark Company, LLC
1 question for EA
Mike Hickey
The Benchmark Company LLC
1 question for EA
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Sony | Platform partner (publishing) | Console | Direct sales represented 37% of total net revenue in FY 2024 and 32% in FY 2023. |
Microsoft | Platform partner (publishing) | Console | Direct sales represented 16% of total net revenue in FY 2024 and 16% in FY 2023. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Playdemic Limited | 2021 | Acquired for $1.4 billion in cash, Playdemic was integrated to expand EA’s mobile growth strategy and bolster its sports and mobile gaming segment, notably through its award-winning game Golf Clash and over 80 million downloads. |
Glu Mobile Inc. | 2021 | Acquired for a total enterprise value of $2.1 billion, the deal, completed on April 29, 2021, added critical mobile-first capabilities including 500+ developers and a portfolio of popular casual and lifestyle games, enhancing EA’s global reach and mobile profitability. |
Recent press releases and 8-K filings for EA.
- EA reported net bookings of $1.818 billion for the quarter, down 13% YoY, while Madden NFL 26 and Apex Legends returned to bookings growth.
- Q2 net revenue was $1.839 billion; operating cash flow was $130 million for the quarter and $1.872 billion on a trailing twelve-month basis.
- EA repurchased 2.3 million shares for $375 million in Q2 and has repurchased 17.5 million shares for $2.5 billion TTM; declared a $0.19 per share quarterly dividend payable December 23, 2025.
- The successful launches of skate. and Battlefield 6 underscore EA’s strategy to drive long-term community engagement and growth.
- EA reported Q2 FY26 net bookings of $1.818 B, down 13% YoY, driven by the absence of the prior-year College Football release.
- Net revenue was $1.839 B, with net income of $137 M (diluted EPS $0.54).
- Operating cash flow reached $130 M for the quarter and $1.872 B on a trailing twelve-month basis.
- The company repurchased 2.3 M shares for $375 M and declared a quarterly dividend of $0.19/share, payable December 23, 2025.
- EA and the NFL have extended their exclusive Madden NFL license through at least April 2031.
- The agreement includes expanded content for EA Sports College Football and new large-scale interactive fan experiences.
- EA initially considered giving up exclusivity, but the NFL insisted on maintaining a sole licensee, prompting EA to continue the partnership.
- EA has paid a significant premium to retain exclusive NFL rights after over 20 years of exclusivity.
- EA SPORTS and the NFL have signed an expanded, multi-year exclusive agreement to grow and innovate the Madden NFL franchise and broader football ecosystem.
- Madden NFL remains the sole authentic NFL simulation game, with the deal also backing new content for EA SPORTS College Football and entirely new, large-scale interactive experiences for fans.
- The Madden NFL franchise sees 2 billion games played annually and the equivalent of 23,000 NFL seasons simulated daily, underscoring its global reach and engagement.
- EA’s Battlefield 6 sold over 7 million copies in its first three days, making it the franchise’s biggest launch to date.
- Players engaged in 172 million matches and watched 15 million hours of streaming during the launch weekend.
- The game’s Open Beta in August also broke franchise records for player engagement.
- Season 1 content “Rogue Ops,” featuring a new map and a 4v4 mode, will launch on October 28.
- Battlefield 6 launches today on PlayStation 5, Xbox Series X/S, and PC worldwide.
- Features new all-out warfare modes across eight global multiplayer maps, a nine-mission single-player campaign, and enhanced Portal creator tools.
- Standard Edition priced at $69.99 and Phantom Edition at $99.99, the latter including exclusive skins, weapon and vehicle packs, and a Season 1 token.
- Season 1 “Rogue Ops” begins October 28 with a new map and 4v4 mode; California Resistance and Winter Offensive phases follow in November and December, all free to players.
- Electronic Arts reported $7.5 billion in GAAP net revenue for fiscal 2025.
- The Ademi Firm is probing EA for possible breaches of fiduciary duty in its deal with PIF, Silver Lake and Affinity Partners.
- Shareholders are set to receive $210 per share in an all-cash transaction valued at approximately $55 billion.
- The agreement restricts competing bids by imposing a hefty penalty if EA accepts an alternate offer.
- EA insiders stand to gain substantial benefits under the proposed change-of-control arrangements.
- EA has entered an agreement to be acquired by an investor consortium of PIF, Silver Lake and Affinity Partners in an all-cash transaction valuing the company at approximately $55 billion.
- EA stockholders will receive $210 per share in cash, representing a 25% premium to the unaffected closing price of $168.32 on September 25, 2025.
- The transaction is expected to close in Q1 FY27, subject to regulatory and shareholder approvals, and EA common stock will be delisted from NASDAQ upon closing.
- Financing comprises $36 billion of equity—including a rollover of PIF’s existing stake—and $20 billion of debt financing, with $18 billion funded at closing by JPMorgan Chase Bank.
- Post-close, EA will remain headquartered in Redwood City, California, and Andrew Wilson will continue as CEO.
- EA to be acquired in an all-cash transaction valuing the company at an enterprise value of $55 billion, with stockholders receiving $210 per share, a 25% premium to the unaffected share price of $168.32 on September 25, 2025.
- Consortium includes PIF (rolling over its 9.9% stake), Silver Lake, and Affinity Partners, marking the largest all-cash sponsor take-private investment in history.
- Deal financing comprises approximately $36 billion of equity (including PIF’s rollover) and $20 billion of debt, with $18 billion expected to be funded at closing.
- Approved by EA’s Board, the transaction is expected to close in Q1 FY27 pending customary regulatory and shareholder approvals; EA common stock will be delisted upon closing.
- Electronic Arts is in advanced talks to go private through a $50 billion leveraged buyout led by Silver Lake, Saudi PIF, and Affinity Partners.
- The transaction would be the largest leveraged buyout ever, surpassing the $32 billion 2007 TXU deal.
- Saudi Arabia’s Public Investment Fund, which already holds about 9% of EA, spearheads a broader push into gaming investments.
- EA’s shares rose approximately 15% on the news, as the company pursues restructuring efforts including 5% workforce reductions and the shutdown of certain mobile titles to focus on core IP.
- The buyout is expected imminently amid strategic emphasis on upcoming releases such as Battlefield 6, launching October 10.