Financial

Electronic Arts Inc. Q4 and FY24 Results

1 May 202419 pages2,790 words

Summary

The presentation delivers Electronic Arts’ fiscal‑2024 financial performance and outlines expectations for fiscal‑2025, serving as a comprehensive update for investors and analysts. It emphasizes that FY24 net bookings reached $7.43 billion, a modest 1 percent increase year‑over‑year, with live‑services contributing 73 percent of total bookings. The sports franchise generated $5.4 billion, while Apex Legends added $3.4 billion, underscoring the continued strength of core IPs. GAAP operating margin stood at 20.1 percent and non‑GAAP margin at 31.5 percent, supported by operating cash flow of $2.315 billion and a GAAP earnings‑per‑share of $4.68. A $5 billion stock‑repurchase program, $2.3 billion of which is allocated for FY24, reflects confidence in cash generation. Guidance for FY25 projects net revenue between $7.1 billion and $7.5 billion, GAAP EPS of $0.73‑$0.90, and operating margins of 18.0‑20.6 percent (GAAP) and 29.6‑31.7 percent (non‑GAAP). Net bookings are expected to range from $7.3 billion to $7.7 billion, with Q1 FY25 revenue anticipated at $1.575‑$1.675 billion. The outlook incorporates a constant‑currency adjustment and a foreign‑exchange hedging program that modestly reduces reported bookings and expenses. The financial data are presented on both GAAP and non‑GAAP bases, with reconciliations that exclude acquisition‑related costs, stock‑based compensation, restructuring charges, and capital expenditures. Constant‑currency figures are derived using weighted‑average exchange rates and reflect the impact of hedging. Platform‑level breakdowns show console bookings of $4.614 billion, PC and other platforms at $1.629 billion, and mobile at $1

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