July 22, 2014
Electronic Arts Reports Q1 FY15 Financial Results
Q1 Non-GAAP Net Revenue up 57% and Operating Income Up $246 Million Year-Over-Year
Trailing Twelve Month Operating Cash Flow Hits a Company Record High of $964 Million
REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its first fiscal quarter ended June 30, 2014.
"It was a strong start to the year for Electronic Arts. We are committed to putting our players first and delivering the entertainment, innovation and creativity that our players want," said Chief Executive Officer Andrew Wilson. "Through exciting new titles and fresh content in our live services, we are well-positioned to deliver on that commitment in FY15 and beyond."
"EA delivered first quarter EPS above prior year and our guidance through a combination of revenue growth, higher gross margins and lower operating expenses," said Chief Financial Officer Blake Jorgensen. "We have gotten off to a great start and are encouraged by the trends in our industry and business."
News and ongoing updates regarding EA and our games are available on EA's blog at
http://ea.com/news.
Selected Financial and Operating Highlights and Metrics:
*On a non-GAAP basis
In EA's fiscal Q1, gamers played more than 13.6 billion online sessions of EA games, totaling nearly 2.4 billion hours played across console, mobile and PC.
EA received more than 40 E3 awards: Dragon AgeTM Inquisition won more than 20 awards at E3, including Best RPG, and NHL®15 took home Best Sports Game from the E3 Game Critics.
Monthly active players for EA MobileTM titles reached more than 140 million in Q1.
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, TitanfallTM, Battlefield 4TM, and EA SPORTSTM UFC®.
More than 53 million matches were played in FIFA Ultimate Team World Cup mode in the quarter, equivalent to playing over 800,000 FIFA World Cup tournaments.
Revenue for EA's Ultimate Team services continued to grow in fiscal Q1, with NHL Hockey Ultimate Team growing 50%*, FIFA Ultimate Team growing nearly 80%* and Madden Ultimate Team growing over 350%* year-over-year.
Operating cash flow for the quarter improved $252 million versus the same period last year and hit a Company record high of $964 million on a trailing twelve month basis.
EA repurchased 1.4 million shares in Q1 for $50 million pursuant to the $750 million Share Repurchase Program initiated in May 2014.
EA reaffirmed fiscal 2015 guidance of $4.1 billion in net revenue* and $1.85 in EPS*, which reflects the launch date changes for Battlefield™ Hardline and Dragon Age Inquisition announced today.
