Q2 2024 Earnings Summary
Reported on Jan 4, 2025
Pre-Earnings PriceN/ADate unavailable
Post-Earnings PriceN/ADate unavailable
Price ChangeN/A
- Successful launch of EA SPORTS FC 24: EA has successfully rebranded and launched EA SPORTS FC 24, bringing in double-digit growth in new players and positive feedback from the community. This reimagined franchise is expected to deliver low single-digit growth year-over-year, despite lapping record FIFA results that included World Cup events. EA is confident that FC will continue to expand as a platform, serving fans across multiple platforms and modalities, and driving consistent engagement and spending throughout the year.
- Expansion and growth of the Madden NFL franchise: EA's Madden NFL 24 has seen almost 10% more players and over 10% growth in weekly average users year-over-year. EA is working closely with the NFL and NFL Players Association to fulfill the needs of a growing global fan community for American football, leveraging their long-term partnerships to expand the franchise's audience scale and drive long-term growth.
- Positive momentum in Apex Legends: Apex Legends Season 18 has resonated with players, delivering positive results through more dynamic content and new chase mechanics. The game continues to have a deeply committed and engaged community, and EA expects continued innovation to drive growth for the franchise over the long term.
- EA is experiencing softness in certain markets, particularly Europe, which could impact their financial performance.
- EA SPORTS FC is expected to achieve only low single-digit growth for the full year, facing tough comparisons due to last year's exceptional performance boosted by the World Cup.
- The anticipated benefits from the transition to EA SPORTS FC, including new revenue opportunities from partnerships and sponsorships, may take time to materialize, potentially delaying expected gains.
Research analysts covering ELECTRONIC ARTS.