Electronic Arts Reports Q4 FY14 and FY14 Financial Results
Full-Year Non-GAAP EPS and Operating Cash Flow Doubles Year-Over-Year
Non-GAAP Digital Net Revenue of $1.8 Billion Delivers 45% of Total Revenue
Announcing New $750 Million Share Repurchase
Tuesday, May 6, 2014 1:01 pm PDT
"Electronic Arts delivered outstanding results in fiscal year 2014. Most importantly, we produced hit games, innovative digital content and services, and amazing entertainment for our players around the world"
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth fiscal quarter ended March 31, 2014.
“Electronic Arts delivered outstanding results in fiscal year 2014. Most importantly, we produced hit games, innovative digital content and services, and amazing entertainment for our players around the world,” said Chief Executive Officer Andrew Wilson. “It was a transformative year for EA in a dynamic year for our industry, and I’m even more excited for the new experiences we will deliver in fiscal year 2015 and beyond.”
“While navigating through a year of tremendous change in the industry, which included a challenging console transition, we were able to exceed revenue guidance, lower our operating expenses, double operating cash flows, and invest in new products and services for the future,” said Chief Financial Officer Blake Jorgensen. “On a non-GAAP basis, we drove higher gross margins, improving our operating profit margins to 18%.”
This release, along with ongoing updates regarding EA’s business, is available on EA’s blog at
http://ea.com/news.
Selected Financial and Operating Highlights and Metrics:
*On a non-GAAP basis
Calendar year-to-date, EA continues to be the #1 publisher on PlayStation®4 and Xbox One consoles in the Western World led by FIFA 14, Titanfall™, Battlefield 4™, Need For Speed™ Rivals and Madden NFL 25.
In the fiscal fourth quarter, EA titles represented 40% of Western World combined title sales for the PlayStation®4 and Xbox One.
Mobile revenue set a new EA record, contributing nearly $460 million* for the fiscal year.
EA’s mobile business reached more than 130 million monthly active users in the fiscal year, and in Q4, EA mobile games were downloaded 143 million times.
EA’s Ultimate Team services generated more than $380 million* in fiscal year 2014, with Madden Ultimate Team growing 90% year-over-year.
Operating cash flow for the fiscal year was $712 million, more than doubling last year’s operating cash flow of $324 million.
Calendar year-to-date, FIFA 14, Titanfall and Battlefield 4 were three of the top five best-selling titles across all platforms in the Western World.
EA makes history as Bruce Lee steps into The Octagon™ for the first time with EA SPORTS™ UFC® launching on June 17.
Q4 Financial Highlights:
For the quarter, non-GAAP net revenue of $914 million was above our guidance of $800 million. Non-GAAP diluted earnings per share of $0.48 was above our guidance of $0.09.
- See more at:
http://news.ea.com/press-release/co...d-fy14-financial-results#sthash.nxqmg29D.dpuf
