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Electronic Arts has published a financial report for the first quarter ended June 30. The company has a reason to celebrate as it sees "a record Q1, driven by strong momentum in EA SPORTS global football and Star Wars Jedi: Survivor."
As you might already know, Jedi: Survivor was very successful and will be later released for PS4 and Xbox One.
EA's net bookings in Q1 were $1.578 billion, which is 21% more than it was last year in the same period and up 25% in constant currency. Live services and other net bookings brought the company $1.177 billion, up 4% year-on-year, and represented 75% of total net bookings.
Additionally, net revenue for the quarter was $1.924 billion ($447 million – full game, $1.481 billion – live services and other), and net cash provided by operating activities was $359 million in Q1 and $1.987 billion for twelve months.
According to the report, the studio continues to "execute across the business", launch five new games, and provide over 145 content updates across 37 titles during the quarter.
As for the twelve-month period, EA received $7.583 billion in net revenue, $2.039 billion of which were from games and $5.544 billion from live services and other sources.
By the end of the fiscal year 2024, EA expects net revenue to reach $7.300-$7.700 billion and income to see $947 million to $1.087 billion.
Q2 ending September 30, 2023, should bring the company revenue of $1.825 billion to $1.925 billion and income of $197 million to $243 million.
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