Live services drive Q1 expectation beat and builds momentum for FY25

Electronic Arts (NASDAQ:EA) today announced preliminary financial results for its first quarter ended June 30, 2024.

"EA delivered a strong start to FY25, beating net bookings guidance as we continue to execute across our business," said Andrew Wilson, CEO of EA. "Our focus on delivering bigger, bolder, and more connected experiences for our players has never been sharper and is illustrated by the record-breaking launch of EA SPORTS College Football 25 as we head into another historic Q2 sports season at EA."

"Strong execution, live events and continued player engagement across our experiences, delivered Q1 results above expectations," said Stuart Canfield, CFO of EA. "Looking ahead, the remarkable success of our launch week for College Football, combined with the upcoming launches for EA SPORTS Madden NFL, EA SPORTS FC and Dragon Age: The Veilguard, is building momentum for FY25 and beyond. We are well positioned to deliver our multi-year financial objectives."

Selected Operating Highlights and Metrics

Net bookings¹ for the quarter totaled $1.262 billion, exceeding the high end of the guidance range of $1.250 billion. This was driven by stronger performance across Madden NFL 24, FC Online and FC Mobile.
EA SPORTS FC^TM celebrated real-world tournaments and events during Q1, attracting tens of millions of new fans and driving engagement across the franchise during the quarter.

EA SPORTS^TM Madden NFL delivered sustained momentum through the quarter, with weekly average users in Ultimate Team and total net bookings up double digits year-over-year.
During the quarter, EA revealed Dragon Age: The Veilguard gameplay, which trended #1 on YouTube Gaming and received millions of views.
After the quarter ended, EA SPORTS^TM College Football 25 welcomed 5 million unique players into the game through its first week, with over 500,000 more playing via the EA Play trial.

Selected Financial Highlights and Metrics

Net revenue was $1.660 billion for the quarter.
Net cash provided by operating activities was $120 million for the quarter and $2.076 billion for the trailing twelve months.
EA repurchased 2.8 million shares for $375 million during the quarter under the new stock repurchase program, bringing the total for the trailing twelve months to 10.2 million shares for $1.350 billion.

Dividend

EA has declared a quarterly cash dividend of $0.19 per share of the Company's common stock. The dividend is payable on September 18, 2024 to stockholders of record as of the close of business on August 28, 2024.

Quarterly Financial Highlights

	Three Months Ended
	June 30,
	2024	2023
(in $ millions, except per share amounts)
Full game	250	443
Live services and other	1,410	1,481
Total net revenue	1,660	1,924

Net income	280	402
Diluted earnings per share	1.04	1.47

Operating cash flow	120	359

Value of shares repurchased	375	325
Number of shares repurchased	2.8	2.6

Cash dividend paid	50	52

Trailing Twelve Months Financial Highlights

	Twelve Months Ended
	June 30,
	2024	2023
(in $ millions)
Full game	1,822	2,039
Live services and other	5,476	5,544
Total net revenue	7,298	7,583

Net income	1,151	893

Operating cash flow	2,076	1,987

Value of shares repurchased	1,350	1,300
Number of shares repurchased	10.2	10.5

Operating Metric

The following is a calculation of our total net bookings¹ for the periods presented:

	Three Months Ended				Twelve Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
(in $ millions)
Total net revenue	1,660		1,924		7,298		7,583
Change in deferred net revenue (online-enabled games)	(398	)	(346	)	(184	)	37
Total net bookings	1,262		1,578		7,114		7,620

Business Outlook as of July 30, 2024

Fiscal Year 2025 Expectations – Ending March 31, 2025

Financial outlook metrics:

Net revenue is expected to be approximately $7.100 billion to $7.500 billion.
- Change in deferred net revenue (online-enabled games) is expected to be approximately $200 million.
Net income is expected to be approximately $904 million to $1.085 billion.
Diluted earnings per share is expected to be approximately $3.34 to $4.00.
Operating cash flow is expected to be approximately $2.050 billion to $2.250 billion.
The Company estimates a share count of 271 million for purposes of calculating diluted earnings per share.

Operational outlook metric:

Net bookings¹ is expected to be approximately $7.300 billion to $7.700 billion.

Second Quarter Fiscal Year 2025 Expectations – Ending September 30, 2024

Financial outlook metrics:

Net revenue is expected to be approximately $1.900 billion to $2.000 billion.
- Change in deferred net revenue (online-enabled games) is expected to be approximately $50 million.

Net income is expected to be approximately $204 million to $248 million.
Diluted earnings per share is expected to be approximately $0.76 to $0.93.
The Company estimates a share count of 267 million for purposes of calculating diluted earnings per share.

Operational outlook metric:

Net bookings¹ is expected to be approximately $1.950 billion to $2.050 billion.

Conference Call and Supporting Documents

Electronic Arts will host a conference call on July 30, 2024 at 2:00 pm PT (5:00 pm ET) to review its results for the first fiscal quarter ended June 30, 2024 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (888) 330-2446 (domestic) or (240) 789-2732 (international), using the conference code 5939891 or via webcast at EA's IR Website at http://ir.ea.com.

EA has posted a slide presentation with a financial model of EA's historical results and guidance on EA's IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA's IR Website.

A dial-in replay of the conference call will be available until August 14, 2024 at (800) 770-2030 (domestic) or (647) 362-9199 (international) using conference code 5939891. An audio webcast replay of the conference call will be available for one year on EA's IR Website.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA's expectations under the heading "Business Outlook as of July 30, 2024" and other information regarding EA's expectations contain forward-looking statements that are subject to change. Statements including words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "predict," "seek," "goal," "will," "may," "likely," "should," "could" (and the negative of any of these terms), "future" and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management's current expectations. Our actual results could differ materially from those discussed in the forward-looking statements.

Some of the factors which could cause the Company's results to differ materially from its expectations include the following: sales of the Company's products and services; the Company's ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company's ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company's sales and marketing programs; timely development and release of the Company's products and services; the Company's ability to realize the anticipated benefits of, and integrate, acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company's ability to predict consumer preferences and trends; the Company's ability to develop and implement new technology; foreign currency exchange rate fluctuations; economic and geopolitical conditions; changes in our tax rates or tax laws; and other factors described in Part I, Item 1A of Electronic Arts' latest Annual Report on Form 10-K under the heading "Risk Factors", as well as in other documents we have filed with the Securities and Exchange Commission.

These forward-looking statements are current as of July 30, 2024. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts.

While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended June 30, 2024.

About Electronic Arts

Electronic Arts (NASDAQ:EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2024, EA posted GAAP net revenue of approximately $7.6 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS FC™, Battlefield™, Apex Legends™, The Sims™, EA SPORTS™ Madden NFL, EA SPORTS™ College Football, Need for Speed™, Dragon Age™, Titanfall™, Plants vs. Zombies™ and EA SPORTS F1^®. More information about EA is available at www.ea.com/news.

EA, EA SPORTS, EA SPORTS FC, Battlefield, Need for Speed, Apex Legends, The Sims, Dragon Age, Titanfall, and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the property of their respective owners and used with permission.

¹Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(in $ millions, except per share data)

	Three Months Ended June 30,
	Three Months Ended June 30,
	2024	2023
Net revenue	1,660	1,924
Cost of revenue	263	368
Gross profit	1,397	1,556
Operating expenses:
Research and development	629	596
Marketing and sales	205	229
General and administrative	180	163
Amortization of intangibles	17	25
Restructuring	2	1
Total operating expenses	1,033	1,014
Operating income	364	542
Interest and other income (expense), net	30	14
Income before provision for income taxes	394	556
Provision for income taxes	114	154
Net income	280	402
Earnings per share
Basic	1.05	1.48
Diluted	1.04	1.47
Number of shares used in computation
Basic	266	272
Diluted	268	274

Results (in $ millions, except per share data)

The following table reports the variance of the actuals versus our guidance provided on May 7, 2024 for the three months ended June 30, 2024 plus a comparison to the actuals for the three months ended June 30, 2023.

	Three Months Ended June 30,
	2024 Guidance (Mid-Point)				2024 Actuals		2023 Actuals
	2024 Guidance (Mid-Point)		Variance		2024 Actuals		2023 Actuals
Net revenue
Net revenue	1,625		35		1,660		1,924
GAAP-based financial data
Change in deferred net revenue (online-enabled games)¹	(425	)	27		(398	)	(346	)
Cost of revenue
Cost of revenue	245		18		263		368
GAAP-based financial data
Acquisition-related expenses	(10	)	—		(10	)	(16	)
Stock-based compensation	(5	)	1		(4	)	(2	)
Operating expenses
Operating expenses	1,075		(42	)	1,033		1,014
GAAP-based financial data
Acquisition-related expenses	(20	)	3		(17	)	(25	)
Restructuring and related charges	(65	)	59		(6	)	(3	)
Stock-based compensation	(135	)	(4	)	(139	)	(128	)
Income before tax
Income before tax	324		70		394		556
GAAP-based financial data
Acquisition-related expenses	30		(3	)	27		41
Change in deferred net revenue (online-enabled games)¹	(425	)	27		(398	)	(346	)
Restructuring and related charges	65		(59	)	6		3
Stock-based compensation	140		3		143		130
Tax rate used for management reporting	19	%			19	%	19	%
Earnings per share
Basic	0.83		0.22		1.05		1.48
Diluted	0.82		0.22		1.04		1.47
Number of shares used in computation
Basic	268		(2	)	266		272
Diluted	270		(2	)	268		274

¹The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(in $ millions)

	June 30, 2024		March 31, 2024²
ASSETS
Current assets:
Cash and cash equivalents	2,400		2,900
Short-term investments	366		362
Receivables, net	433		565
Other current assets	388		420
Total current assets	3,587		4,247
Property and equipment, net	558		578
Goodwill	5,379		5,379
Acquisition-related intangibles, net	373		400
Deferred income taxes, net	2,393		2,380
Other assets	418		436
TOTAL ASSETS	12,708		13,420

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	80		110
Accrued and other current liabilities	976		1,166
Deferred net revenue (online-enabled games)	1,412		1,814
Total current liabilities	2,468		3,090
Senior notes, net	1,882		1,882
Income tax obligations	525		497
Deferred income taxes, net	1		1
Other liabilities	432		437
Total liabilities	5,308		5,907

Stockholders' equity:
Common stock	3		3
Retained earnings	7,457		7,582
Accumulated other comprehensive loss	(60	)	(72	)
Total stockholders' equity	7,400		7,513
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	12,708		13,420

²Derived from audited consolidated financial statements.

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Cash Flows
(in $ millions)

	Three Months Ended June 30,
	2024		2023
OPERATING ACTIVITIES
Net income	280		402
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, accretion and impairment	80		88
Stock-based compensation	143		130
Change in assets and liabilities
Receivables, net	132		167
Other assets	58		96
Accounts payable	(11	)	(18	)
Accrued and other liabilities	(147	)	(92	)
Deferred income taxes, net	(13	)	(93	)
Deferred net revenue (online-enabled games)	(402	)	(321	)
Net cash provided by operating activities	120		359

INVESTING ACTIVITIES
Capital expenditures	(67	)	(45	)
Proceeds from maturities and sales of short-term investments	128		151
Purchase of short-term investments	(130	)	(150	)
Net cash used in investing activities	(69	)	(44	)

FINANCING ACTIVITIES
Cash dividends paid	(50	)	(52	)
Cash paid to taxing authorities for shares withheld from employees	(121	)	(105	)
Common stock repurchases	(375	)	(325	)
Net cash used in financing activities	(546	)	(482	)

Effect of foreign exchange on cash and cash equivalents	(5	)	2
Change in cash and cash equivalents	(500	)	(165	)
Beginning cash and cash equivalents	2,900		2,424
Ending cash and cash equivalents	2,400		2,259

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Financial Information and Business Metrics
(in $ millions, except per share data)

	Q1		Q2		Q3		Q4		Q1		YOY %
	FY24		FY24		FY24		FY24		FY25		Change
Net revenue
Net revenue	1,924		1,914		1,945		1,779		1,660		*(14*	%)
GAAP-based financial data
Change in deferred net revenue (online-enabled games)¹	(346	)	(94	)	421		(113	)	(398	)
Gross profit
Gross profit	1,556		1,458		1,416		1,422		1,397		*(10*	%)
Gross profit (as a % of net revenue)	81	%	76	%	73	%	80	%	84	%
GAAP-based financial data
Acquisition-related expenses	16		15		16		29		10
Change in deferred net revenue (online-enabled games)¹	(346	)	(94	)	421		(113	)	(398	)
Stock-based compensation	2		2		2		2		4
Operating income
Operating income	542		377		365		234		364		*(33*	%)
Operating income (as a % of net revenue)	28	%	20	%	19	%	13	%	22	%
GAAP-based financial data
Acquisition-related expenses	41		39		37		101		27
Change in deferred net revenue (online-enabled games)¹	(346	)	(94	)	421		(113	)	(398	)
Restructuring and related charges	3		—		—		61		6
Stock-based compensation	130		155		151		148		143
Net income
Net income	402		399		290		182		280		*(30*	%)
Net income (as a % of net revenue)	21	%	21	%	15	%	10	%	17	%
GAAP-based financial data
Acquisition-related expenses	41		39		37		101		27
Change in deferred net revenue (online-enabled games)¹	(346	)	(94	)	421		(113	)	(398	)
Restructuring and related charges	3		—		—		61		6
Stock-based compensation	130		155		151		148		143
Tax rate used for management reporting	19	%	19	%	19	%	19	%	19	%
Diluted earnings per share	1.47		1.47		1.07		0.67		1.04		*(29*	%)
Number of shares used in computation
Basic	272		271		269		267		266
Diluted	274		272		271		270		268

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Financial Information and Business Metrics
(in $ millions)

	Q1		Q2		Q3		Q4		Q1		YOY %
	FY24		FY24		FY24		FY24		FY25		Change
QUARTERLY NET REVENUE PRESENTATIONS
Net revenue by composition
Full game downloads	301		346		431		265		190		(37	%)
Packaged goods	142		275		187		68		60		(58	%)
Full game	443		621		618		333		250		(44	%)
Live services and other	1,481		1,293		1,327		1,446		1,410		(5	%)
Total net revenue	1,924		1,914		1,945		1,779		1,660		*(14*	%)
Full game	23	%	32	%	32	%	19	%	15	%
Live services and other	77	%	68	%	68	%	81	%	85	%
*Total net revenue %*	*100*	%	*100*	%	*100*	%	*100*	%	*100*	%
GAAP-based financial data
Full game downloads	(21	)	24		32		(37	)	(47	)
Packaged goods	(21	)	46		4		(37	)	(35	)
Full game	(42	)	70		36		(74	)	(82	)
Live services and other	(304	)	(164	)	385		(39	)	(316	)
Total change in deferred net revenue (online-enabled games) by composition¹	(346	)	(94	)	421		(113	)	(398	)

Net revenue by platform
Console	1,167		1,187		1,229		1,049		1,005		(14	%)
PC & Other	451		423		420		423		365		(19	%)
Mobile	306		304		296		307		290		(5	%)
Total net revenue	1,924		1,914		1,945		1,779		1,660		*(14*	%)
GAAP-based financial data
Console	(266	)	(35	)	377		(94	)	(328	)
PC & Other	(77	)	(34	)	33		(10	)	(70	)
Mobile	(3	)	(25	)	11		(9	)	—
Total change in deferred net revenue (online-enabled games) by platform¹	(346	)	(94	)	421		(113	)	(398	)

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Financial Information and Business Metrics
(in $ millions)

	Q1		Q2		Q3		Q4		Q1		YOY %
	FY24		FY24		FY24		FY24		FY25		Change
CASH FLOW DATA
Investing cash flow	(44	)	(63	)	(51	)	(49	)	(69	)
Investing cash flow - TTM	(196	)	(205	)	(195	)	(207	)	(232	)	(18	%)
Financing cash flow	(482	)	(351	)	(431	)	(360	)	(546	)
Financing cash flow - TTM	(1,606	)	(1,609	)	(1,622	)	(1,624	)	(1,688	)	(5	%)
Operating cash flow	359		112		1,264		580		120
Operating cash flow - TTM	1,987		2,211		2,352		2,315		2,076		4	%
Capital expenditures	45		51		52		51		67
Capital expenditures - TTM	193		191		195		199		221		15	%
Free cash flow³	314		61		1,212		529		53
Free cash flow³ - TTM	1,794		2,020		2,157		2,116		1,855		3	%
Common stock repurchases	325		325		325		325		375		15	%
Cash dividends paid	52		51		51		51		50		(4	%)
DEPRECIATION
Depreciation expense	49		49		48		50		51		4	%
BALANCE SHEET DATA
Cash and cash equivalents	2,259		1,946		2,742		2,900		2,400
Short-term investments	343		359		362		362		366
Cash and cash equivalents, and short-term investments	2,602		2,305		3,104		3,262		2,766		6	%
Receivables, net	517		1,047		867		565		433		(16	%)
STOCK-BASED COMPENSATION
Cost of revenue	2		2		2		2		4
Research and development	93		113		108		104		101
Marketing and sales	11		13		14		14		12
General and administrative	24		27		27		28		26
Total stock-based compensation	130		155		151		148		143
RESTRUCTURING AND RELATED CHARGES
Restructuring	1		2		—		59		2
Office space reductions	2		(2	)	—		2		4
Total restructuring and related charges	3		—		—		61		6

³Free cash flow is defined as Operating cash flow less Capital expenditures.

ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(in $ millions)

The following table provides a reconciliation of non-GAAP operating income and margin to their most directly comparable GAAP financial measure for the three months ended June 30, 2024 plus a comparison to the actuals for the three months ended June 30, 2023.


	Three Months Ended
	June 30,
	2024		2023		YOY % Change

Net revenue	1,660		1,924		*(14*	%)

GAAP operating income	364		542		*(33*	%)
Acquisition-related expenses	27		41
Restructuring and related charges	6		3
Stock-based compensation	143		130
Non-GAAP operating income	540		716		(25	%)

GAAP operating margin	21.9	%	28.2	%
Non-GAAP operating margin	32.5	%	37.2	%
Impact from change in deferred net revenue (online-enabled games)	(2,120) bps		(1,380) bps

ELECTRONIC ARTS INC. AND SUBSIDIARIES
GAAP Guidance to Non-GAAP Guidance
(in $ millions)

The following table provides GAAP to Non-GAAP reconciliation of the Company's FY25 guidance.

	Twelve Months Ending March 31, 2025
	GAAP-Based Financial Data																GAAP-Based Financial Data
			A			B		C		D
	GAAP Guidance Range					Acquisition related expenses²		Restructuring and related charges²		Stock-based compensation²		Non-GAAP Guidance Range = A + B +C + D					Change in deferred net revenue (online- enabled games)²

Net revenue	7,100		to	7,500		—		—		—		7,100		to	7,500		200
Cost of revenue	1,480		to	1,520		(40	)	—		(10	)	1,430		to	1,470		—
Operating expense	4,345		to	4,435		(70	)	(95	)	(615	)	3,565		to	3,655		—
Operating margin	18.0	%	to	20.6	%	150 bps		130 bps		860 bps		29.6	%	to	31.7	%	200 bps to 170 bps
Income before provision for income taxes	1,329		to	1,596		110		95		625		2,159		to	2,426		200
Net income¹	904		to	1,085

Number of shares used in computation:
Diluted	271

¹ The Company uses a tax rate of 19% internally to evaluate its operating performance and to forecast, plan and analyze future periods.

²The mid-point of the range has been used for purposes of presenting reconciling items to operating margin.

ELECTRONIC ARTS INC. AND SUBSIDIARIES
GAAP-Based Financial Data for Guidance
(in $ millions)

The following table provides supplemental information to the Company's Q2 FY25 guidance.

	Three Months Ending September 30, 2024
	GAAP-Based Financial Data

	GAAP Guidance Range			Acquisition -related expenses		Restructuring and related charges		Stock-based compensation		Change in deferred net revenue (online -enabled games)

Net revenue	1,900	to	2,000	—		—		—		50
Cost of revenue	420	to	450	(10	)	—		(5	)	—
Operating expense	1,190	to	1,200	(20	)	(65	)	(160	)	—
Income before provision for income taxes	300	to	365	30		65		165		50
Net income¹	204	to	248

Number of shares used in computation:
Diluted	267

¹ The Company uses a tax rate of 19% internally to evaluate its operating performance and to forecast, plan and analyze future periods.

Non-GAAP Financial Measures

As a supplement to the Company's financial measures presented in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company presents certain non-GAAP measures of financial performance, including non-GAAP operating margin and free cash flow. These non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. In addition, these non-GAAP measures have limitations in that they do not reflect all of the items associated with the Company's results of operations as determined in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting and differ from GAAP measures with the same names and may differ from non-GAAP financial measures with the same or similar names that are used by other companies.

The non-GAAP financial measures exclude acquisition-related expenses, stock-based compensation, restructuring and related charges, and capital expenditures, as applicable in any given reporting period and our outlook. The Company may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. Management believes that these non-GAAP financial measures provide investors with additional useful information to better understand and evaluate the Company's operating results and future prospects because they exclude certain items that may not be indicative of the Company's core business, operating results, or future outlook. These non-GAAP financial measures, with further adjustments are used by management to understand ongoing financial and business performance.

The Company uses a tax rate of 19% internally to evaluate its operating performance and to forecast, plan, and analyze future periods. Accordingly, the Company applies the same tax rate to its management reporting financial results.

Investors are encouraged to review the related GAAP financial measures and the reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measure.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240730845001/en/

Electronic Arts Reports Strong Q1 FY25 Results