EA's Financial Reports Released: Game-services Dominate Business, New Battlefield Not Before 2025

Electronic Arts has released its financial report for the last quarter of 2023. Revenues were up and games-services dominated.

Martin Bukowski

January 31, 2024 06:12

EA's Financial Reports Released: Game-services Dominate Business, New Battlefield Not Before 2025 Source: Electronic Arts.

Electronic Arts has released the financial report summarizing the third quarter of fiscal year 2024 (i.e. the period from October 1 to December 31, 2023). During this time, net revenues of USD 2.366 billion were generated, which means an increase of 1% compared to 2022. For the entire calendar year 2023, the company achieved revenues of $7.71 billion, which is also an increase, this time by 8%, compared to the previous year

It's worth noting that EA provides so-called "Net bookings" refers to the total earnings from the sale of digital and physical products, considering the revenue difference from service games compared to the previous period.

Dominance of GaaS

Microtransactions and online games are largely responsible for such impressive results. They generated 1.712 trillion dollars (3% more than in the same period last year), which constitutes as much as 73% of total revenues from the third quarter. For comparison, the company earned $654 million from the sales of full versions of games (5% less than in the same period last year). It's still a handsome sum, but the difference of 1.058 billion is definitely a gap.

The report also included stats related to Madden NFL 24. The first title can boast of exceeding the company's expectations, generating 7% more revenue than the corresponding FIFA-series product released in the same period last year. For Madden, the increase was 5%.

Consoles are still leading

There should be no surprises regarding the revenues generated by individual platforms. Consoles remain the leader, ing for $1.606 billion, or as much as 68% of the total amount. In second place were PCs et al. ($453 million), with mobile devices at the bottom of the podium ($307 million).