Electronic Arts just announced its financial results for the third quarter of fiscal year 2016, covering the period between October 1st and December 31st, 2015.
The company recorded a non-GAAP quarterly revenue of 1.8 billion dollars, a non-GAAP net income of 596 million dollars and a GAAP net loss of 45 million dollars. The full results are below.
Chief Executive Officer Andrew Wilson accompanied the press release with a statement:
“This holiday season we connected millions of players through amazing games across multiple platforms. From the stunning visuals and gameplay of STAR WARS Battlefront, to the anytime, anywhere competition in Madden NFL Mobile, players are deeply engaged across the increasing depth and breadth of the EA portfolio.”
Chief Financial Officer Blake Jorgensen also commented:
“It was a great quarter with non-GAAP revenue and earnings that exceeded our guidance. Our results were driven by strong performances from STAR WARS Battlefront, Need for Speed, Ultimate Team and catalog titles.”
The company boasts retaining its position as the biggest publisher for PS4 and Xbox One in the western world for 2015. Further highlights include:
- EA is the #1 publisher on PlayStation®4 and Xbox One consoles in the Western World for calendar year 2015 based on available sources and EA estimates.
- Madden NFL 16 was the #1 sports title in the U.S. and FIFA 16 was the #1 title across all genres in Europe for calendar year 2015.
- The return of Need for Speed™ drew more than twice as many monthly active players in Q3 than the previous game.
- Players logged more than 150 million hours of gameplay across Battlefield 4™ and Battlefield™ Hardline in Q3.
- In Q3, STAR WARS™: The Old Republic grew to its highest subscriber level in nearly three years.
- Madden NFL Mobile monthly active players were up nearly 50% year-over-year in Q3.
Financial highlights are as follows, including the fact that Star Wars: Battlefront‘s shipments were above the predicted 13 million copies.
- For the quarter, non-GAAP net revenue of $1.803 billion was above guidance of $1.775 billion. Diluted non-GAAP EPS of $1.83 was above guidance of$1.75. And operating cash flow of $889 million was a record for any quarter in EA history.
- STAR WARS™ Battlefront surpassed EA’s fiscal year guidance of 13 million units sold-in.
- Non-GAAP net revenue for EA’s FIFA, Madden NFL and Hockey Ultimate Team™ live services continue to perform well in Q3, collectively up 13% year-over-year and up 22% on a constant currency basis.
- EA repurchased 1.8 million shares in Q3 for $126 million.
- On a trailing twelve month basis, EA had non-GAAP net revenue of $4.538 billion (of which a record $2.421 billion was digital), non-GAAP net income of$982 million and operating cash flow of $1.025 billion.
- EA increased fiscal 2016 non-GAAP net revenue guidance to $4.517 billion and diluted non-GAAP EPS guidance to $3.04 per share. This is an increase from our previous guidance of $4.500 billion and $3.00, respectively.
Electronic Arts also updated its revenue expectations for the full fiscal year.
- GAAP net revenue is expected to be approximately $4.363 billion.
- Non-GAAP net revenue is expected to be approximately $4.517 billion.
- GAAP diluted earnings per share is expected to be approximately $2.23.
- Non-GAAP diluted earnings per share is expected to be approximately $3.04.
Lastly, we get a breakdown of revenue by platform family, with Xbox One and PS4 leading the charge and growing by 34%. PC and browser games ranked second, with a 17% decline. Mobile gaming revenue also grown by 5%.