Electronic Arts Announces Quarterly Results; Promises “Stunning” Mass Effect Andromeda and More
Electronic Arts posts its quarterly financial results, as it prepares to release Mass Effect Andromeda.
Today Electronic Arts released its financial results for the third quarter of fiscal year 2017 (related to the period between October 1st and December 31st, 2016).
You can check out the figures (in million dollars) in the table below. Results were better than the forecast, even if Electronic Arts stopped just shy of breaking even for the quarter.
Chief Executive Officer Andrew Wilson accompanied the press release with a statement, promising to keep “pushing the boundaries of play” with “stunning” new games like Mass Effect: Andromeda.
“With the top console games and most-downloaded mobile portfolio in the industry for Q3, Electronic Arts is growing, engaging and exciting a global community of players. We will continue to push the boundaries of play, with stunning new titles like Mass Effect: Andromeda, global competitive gaming tournaments and more amazing experiences coming in the year ahead.”
A second comment was also provided by Chief Financial Officer Blake Jorgensen, who mentions that the company generated a billion dollars in operating cash flow in a single quarter for the first time in his history.
“For the first time ever, we generated over $1 billion in operating cash flow in a quarter. This is a true testament to the innovation we built into Battlefield 1 and FIFA 17 and the continued strength of our digital live services.”
The press release also included a few highlights underlining key achievements for the publisher in the past quarter.
- Digital net sales of $2.861 billion for the trailing-twelve-month period represents 60% of total net sales, up 18% year-over-year.
- FIFA 17 was the best-selling console title in the world in 2016.
- Battlefield 1 was our biggest Battlefield launch ever and has a player base more than 50% larger than that of Battlefield 4 in its comparable launch quarter.
- To date, more than 10 million fans have played “The Journey”, the new single-player mode in FIFA 17.
- In Q3, average gameplay time per player in Star Wars™: Galaxy of Heroes reached a new high of 155 minutes per day.
EA Also shared the outlook for the full fiscal year 2017, ending on March 31st: net revenue is expected to be approximately $4.800 billion, while the company expects net income to be roughly $914 million.