EA has released its financial results for Q3 FY21, showing record net bookings for the quarter, driven by the outperformance of its live service titles.
For the quarter ended December 31st, EA reported net bookings of $2.4 billion, up 19 per cent, while revenues were up 5 per cent to $1.67 billion. Net income, meanwhile, was down 40 per cent to $211 million.
EA’s revenue was largely driven by the performance of its live service titles, which have exceeded expectations. EA reported bookings up 24 per cent to $1.5 billion, while full game sales were at $858 million, up 10 per cent.
For the 12 month period ended December 31st meanwhile, net bookings were up 8 per cent to $5.96 billion, a record high.
“We delivered another strong quarter, driven by live services outperformance in Ultimate Team and Apex Legends,” said COO and CFO Blake Jorgensen. “We are raising our net bookings outlook for the full year on the strength we continue to see in our business. Looking further ahead, even with the upside this year, we anticipate delivering growth in fiscal 2022, driven by the next Battlefield.”
Live service titles now dominate EA’s business, and the company estimates that by the end of March, they will account for almost 72 per cent of its revenues.
Apex Legends, for instance, continues to perform for the company, with a 30 per cent growth in new players, year-over-year. FIFA Ultimate Team, meanwhile, had a record of nearly 6 million daily active players in December.
The company’s EA Sports titles reached over 230 million players during the last fiscal year. A figure that may rise in the future, given the recent announcement of a multiyear UEFA license extension, and the development of several FIFA mobile titles.
“We’re bringing great entertainment to hundreds of millions of people all over the world,” said CEO Andrew Wilson. “Our amazing teams continue to deliver exceptional, high-quality experiences as more players connect with their friends and engage deeply with our games. With our expansion plans for EA SPORTS, strong catalogue of owned IP, leading live services, and ability to span every platform, we are growing to reach an even larger audience.”