Apex Legends, FIFA Ultimate Team help EA post record breaking quarterly bookings

Apex Legends
Apex Legends

Apex Legends, FIFA Ultimate Team help EA post record breaking quarterly bookings:EA released their finances for the last quarter and they have been the highest in terms of bookings, in EA’s history.

For the three months ended December 31, EA net bookings were up by 19% and sat at around $2.4 billion and revenues were up by 5% and were at $1.67 billion, however, their net income plummeted by 40% to $211 million.

EA’s live services saw an extremely fruitful quarter and saw a 24% growth in the year-over-year bookings, to $1.5 billion while full game sales were up by just 10% to $858 million.

In the last two years ago, live services and other sales have made up for over 64% of EA’s revenue. By the time March comes, EA estimates the number will grow to about 72% as the external earnings it gets from other revenue sources.

“We delivered another strong quarter, driven by live services outperformance in Ultimate Team and Apex Legends,” EA COO and CFO Blake Jorgensen said. “We are raising our net bookings outlook for the full year on the strength we continue to see in our business.”

Apex Legends saw 30% year-over-year growth in the number of new players that have joined the existing player, while FIFA Ultimate Team saw a record of over 6 million daily active players just in December.

EA also acknowledged that FIFA live services have grown at over 50% for the past ten fiscal years, while that number is closer to 60% for Madden live services.

Looking at the first three quarters of fiscal 2021, Jorgensen said the company expects the company’s fiscal 2022 that will begin in April to be even more than the last year.

“Looking further ahead, even with the upside this year, we anticipate delivering growth in fiscal 2022, driven by the next Battlefield,” Jorgensen said.

For the current quarter, EA is looking at its revenues to go down by just 5% to $1.32 billion, and are expecting a net loss $19 million due to an tax accounting change of $152 million.