Video game company Electronic Arts Inc EA second quarter financial results reported after the market close on Tuesday. Here are the main highlights.
What happened: Electronic Arts reported bookings of $1.754 billion in the second quarter, down from $1.851 billion a year earlier Benzinga Pro data.
Net bookings for the trailing 12 months were $7.381 billion, up 4% year over year.
Live services grew 7% year over year and accounted for 73% of total net bookings for the last 12 consecutive months.
EA had more than 600 million active accounts at the end of the second quarter.
In the second quarter, EA released fifa 23, which the company said was the most successful launch in franchise history. FIFA 23 was played by 10.3 million people in the first week after release. Four weeks after the game’s release, units sold are up 10% compared to FIFA 22.
“In Q2, EA delivered strong engagement and deep experiences across our portfolio, with new EA SPORTS titles and cross-platform live services driving the business,” EA CEO Andrew Wilson said. “More people than ever are using games as their primary platform for socializing and creativity.”
Chief Financial Officer of EA Chris Suh called the second quarter a “solid quarter” and said the company met its revenue and earnings commitments.
Related link: It starts with Iron Man; Electronic Arts is developing 3 games inspired by Marvel Comics
What’s next: For the third quarter, EA is forecasting revenue in a range of $1.825 billion to $1.925 billion and net income of $120 million to $164 million.
Net bookings for the third quarter are expected to be between $2.425 billion and $2.525 billion.
For the full fiscal year, EA is forecasting revenue of $7.55 billion to $7.75 billion and net income of $871 million to $934 million.
Full-year net bookings are expected to be between $7.65 billion and $7.85 billion, up 2% to 4% year over year.
Earnings per share for the full year are expected to be in…
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