With the release of EA’s preliminary second quarter financial results for the period ending September 30, 2022, the number of active accounts on the EA Gamer Network has officially exceeded 600 million..
Total net revenue for the quarter reached $1.9 billion, compared to $1.8 billion in the same period last year.
Redeemed shares, live services and more
During its second quarter, EA repurchased 2.6 million shares for a value of $325 million and brought the total for the past 12 months to 10 million shares for nearly $1.3 billion. Net bookings for the past 12 months were up 4% year-on-year to $7.381 billion.
In terms of operating cash flow used and provided by operations, EA had $112 million. Gross profit, meanwhile, hit $1.44 billion in the second quarter; combined with the first quarter, that brings EA’s current gross profit for that fiscal year to $2.9 billion.
In the last 12 months through September 30, EA made $1.997 billion in revenue from its full games themselves, which is only a fraction of the revenue compared to its live service revenue from $5.288 billion. In total, these brought EA’s revenue to $7.285 billion last year, up from $6.396 billion the previous year.
By the end of its fiscal year, March 31, 2023, EA expects its net revenue to be between $7.550 billion and $7.750 billion.
“In Q2, EA delivered strong engagement and deeply immersive experiences across our portfolio, with new EA SPORTS titles and cross-platform live services fueling the business,” said Andrew Wilson, CEO of ‘EA.
“More and more people are turning to games as their primary platform for social connection and creativity. Thanks to EA’s unparalleled intellectual property, talented teams and growing network of gamers, we are well positioned to lead the future of entertainment.”
Chris Suh, EA’s Chief Financial Officer, commented, “The second quarter was a strong quarter. We again delivered on our revenue and profit commitments, driven by our EA SPORTS portfolio and cross-platform live services business. fundamentals, we are ready to generate long-term growth.”
According to a recent infographic from Superjoost, the majority of EA’s revenue still comes from console, not mobile. EA’s new report confirms this, with $1.198 billion in quarterly revenue on console versus $251 million on mobile, suggesting room for growth in this sector.