Electronic Arts Reports Q4 and FY25 Results

Strong finish to FY25 from EA SPORTS FC and Split Fiction; positions EA for growth acceleration and a Battlefield launch in FY26

Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth quarter and fiscal year ended March 31, 2025.

“The incredible success of College Football and the enduring strength of FC drove another record year for EA SPORTS, while The Sims capped FY25 with a historic Q4,” said Andrew Wilson, CEO of Electronic Arts. “As we look to the future, we’re confident in our ability to execute across a deep pipeline — beginning this summer with the highly anticipated reveal of Battlefield, a pivotal step in delivering on our next generation of blockbuster entertainment.”

“Q4 marked a strong finish to FY25, with broad-based momentum across the portfolio positioning the business for accelerated growth,” said Stuart Canfield, CFO of Electronic Arts. “As we enter FY26, we remain focused on disciplined execution as we build toward a slate of groundbreaking upcoming releases.”

Selected Operating Highlights and Metrics

• Net bookings¹ for FY25 totaled $7.355 billion.
• The EA SPORTS portfolio delivered another record net bookings year in FY25.
• EA’s American Football franchise exceeded expectations and reached over $1 billion in net bookings in FY25.
• Celebrating its 25th birthday, The Sims franchise continues its strong momentum with double digit growth in the quarter.
• In EA SPORTS FC, player monetization was up double digits, starting with the mid-January gameplay update.
• Split Fiction has sold nearly 4 million units since its hugely successful launch in March.

Selected Financial Highlights and Metrics

• Net revenue for FY25 was $7.463 billion.
• Net cash provided by operating activities was $549 million for the quarter and $2.079 billion for the fiscal year.
• EA repurchased 9.8 million shares for $1.375 billion during the quarter, bringing the total for the fiscal year to 17.6 million shares for $2.500 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 June 18, 2025 to stockholders of record as of the close of business on May 28, 2025.

Business Outlook as of May 6, 2025

Fiscal Year 2026 Expectations

Operational outlook metrics:

• Fiscal year 2026 net bookings is expected to be approximately $7.600 billion to $8.000 billion.
  • Year-over-year net bookings growth in fiscal year 2026 is expected to be driven by the EA SPORTS portfolio, The Sims, and the launches of Battlefield and skate., partially offset by approximately 5 points of weakness in catalog and Apex Legends.
• The Company expects continued growth in live services, as well as the launch of new non-annual titles in fiscal year 2027.

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 $500 million.
• GAAP operating expenses are expected to be approximately $4.470 billion to $4.570 billion.
  • Year-over-year increases in expenses are largely attributable to costs related to Battlefield marketing.
• Net income is expected to be approximately $795 million to $974 million.
• Diluted earnings per share is expected to be approximately $3.09 to $3.79.
• Operating cash flow is expected to be approximately $2.200 billion to $2.400 billion.
• The Company estimates a share count of 257 million for purposes of calculating diluted earnings per share.
• The Company intends to return at least 80% of free cash flow with stock repurchases and dividends through fiscal year 2027.
• The Company reiterates its financial margin framework through fiscal year 2027 shared at its September 2024 Investor Day.

Q1 Fiscal Year 2026 Expectations – Ending June 30, 2025

Operational outlook metric:

• Net bookings is expected to be approximately $1.175 billion to $1.275 billion.
  • Live services growth, excluding Apex Legends, is expected to be up low-single-digits year-over-year led by the EA SPORTS portfolio, offset by approximately 5 points of headwind from Apex Legends and 2 points of headwind from catalog.

Financial outlook metrics:

• Net revenue is expected to be approximately $1.550 billion to $1.650 billion.
  • Change in deferred net revenue (online-enabled games) is expected to be approximately ($375) million.
• GAAP operating expenses are expected to be approximately $1.110 billion to $1.120 billion.
  • Expenses in Q1 are impacted by continued investments in line with Q4 FY25, as well as costs associated with resource reprioritization.
• Net income is expected to be approximately $125 million to $169 million.
• Diluted earnings per share is expected to be approximately $0.49 to $0.66.
• The Company estimates a share count of 255 million for purposes of calculating diluted earnings per share.

Conference Call and Supporting Documents

Electronic Arts will host a conference call on May 6, 2025 at 2:00 pm PT (5:00 pm ET) to review its results for the fourth fiscal quarter and fiscal year ended March 31, 2025 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 (855) 761-5600 (domestic) or (646) 307-1097 (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 May 13, 2025 at (800) 770-2030 (domestic) or (609) 800-9099 (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 May 6, 2025” 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 II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2024.​

These forward-looking statements are current as of May 6, 2025. Electronic Arts assumes no obligation to revise or update any forward-looking statement, 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 Annual Report on Form 10-K for the fiscal year ended March 31, 2025. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-K for the fiscal year ended March 31, 2025.

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 2025, EA posted GAAP net revenue of approximately $7.5 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, and F1 are the property of their respective owners and used with permission.

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.

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