EA Sees Significant Growth in Q1 Thanks to FIFA and Jedi: Survivor

Electronic Arts has announced its Q1 results, revealing a notable increase in revenue and net bookings driven by the success of its recent releases, including FIFA and Star Wars Jedi: Survivor. Key highlights from the report include: - A 9% year-on-year increase in revenue, reaching $1.92 billion - A 21% year-on-year rise in total net bookings, totaling $1.58 billion - A 29% year-on-year growth in net income, amounting to $402 million EA's CEO, Andrew Wilson, attributed the company's strong performance to the impressive momentum of EA Sports' global football and the success of Star Wars Jedi: Survivor. The FIFA franchise achieved its highest Q1 net bookings to date, while Jedi: Survivor was labeled a 'commercial success' with a significant player base and increased engagement compared to its predecessor, Star Wars Jedi: Fallen Order. The company also saw growth in full game sales and live services revenues. The successful launch of five major titles, including Star Wars Jedi: Survivor, PGA Tour, and F1 23, contributed to EA's record Q1 net bookings. Looking ahead, EA is set to release several titles, including Madden NFL 24, EA Sports FC 24, and Immortals of Aveum in the current quarter, and NHL 24 in the third quarter. The company has also confirmed the release of UFC 5 and an unannounced racing title later in the fiscal year. EA has reaffirmed its full-year guidance, anticipating bookings and revenue to range from $7.3 billion to $7.7 billion.