Electronic Arts has reported record revenue for the quarter ending March 31, with the final installment in its popular FIFA series driving the rise in sales.
Adjusted revenue rose 11 per cent to A$2.88 billion, smashing Wall Street estimates of A$2.56 billion.
Adjusted earnings rose to A$2.62 a share, also beating predictions of A$1.94.
FIFA 23, released in September, was the most successful launch in the franchise’s history, the company said. Quarterly sales from the sale grew 31 per cent year-over-year – given this is an annual title, these are huge figures.
Due to the licensing fees for the FIFA brand blowing out over the years, in large part due to EA’s own building of the title in the gaming world, EA is retiring the brand and launching the same game under a less official title: EA Sports FC – with the next title due in September.
“We’re excited to continue our momentum, including the highly anticipated launch of EA Sports FC later this year,” CEO Andrew Wilson said.
“Record live services performance and increased engagement, particularly from our EA Sports FIFA franchise, drove better-than-expected Q4 net bookings, capping a strong finish to the fiscal year,” said Chris Suh, CFO.
“Looking ahead, our teams remain disciplined in prioritising the player experience as we continue to focus our investments on long-term growth.”
Shares jumped by 3.5 per cent after the company also delivered a rosy current quarter forecast of A$2.22 to A$2.37 billion in revenue.
