EA Sports FC and Madden NFL Drive EA's Annual Growth Despite a Slow Q4

Electronic Arts has released its Q4 FY24 earnings report, which covers the three months ending March 31, 2024. The report shows a decline in sales during the fourth quarter, but an improvement in the bottom line compared to the previous year. For the full year, EA's revenue and net income saw modest and significant growth, respectively. Key financial highlights include a 2% year-over-year increase in revenue to $7.56 billion and a 59% year-over-year increase in net income to $1.27 billion. The company attributes its net income growth to the success of its EA Sports FC and Madden NFL franchises, with the former seeing high-teen percentage growth in full-year net bookings and the latter experiencing a 6% year-over-year increase in bookings. EA has also announced a new $5 billion stock repurchase program to be implemented over the next three years, representing a significant increase from its previous annual repurchase amount of $1.3 billion. Looking ahead, the company expects a decline in revenue for the upcoming year, with projected revenues ranging from $7.1 billion to $7.5 billion, representing a potential decline of up to 6%. Net income is also expected to decrease, with a forecasted range of $904 million to $1.09 billion, representing a potential decline of 14% to 29%.