Electronic Arts announced Wednesday that its revenue for Q1 exceeded estimates, raising the company’s outlook for the fiscal year.
The gaming giant’s revenue grew to $1.55 billion, surpassing last year’s $1.46 billion. Net bookings brought in $1.34 billion — down 3%, but above EA’s guidance of $1.25 billion.
EA credits the success to its sports content, blockbuster franchises, and live services.
- More than 140 million players have engaged with EA Sports games over the last 12 months.
- Season 9 of “Apex Legends” averaged more than 13 million weekly active players and set a record for peak daily players across all seasons.
- Its portfolio consists of more than 15 mobile live services.
EA continues to build its gaming empire by purchasing video game studios. In 2021, it’s acquired Playdemic, Metalhead Software, Glu Mobile, and Codemasters.
With these acquisitions and upcoming titles “Madden 22,” “FIFA 22,” and “Battlefield 2042,” EA has high expectations for the 2022 fiscal year, expecting approximately $6.85 billion in revenue and $7.4 billion in net bookings.