Electronic Arts generated $378 million in revenue for Q1 of its 2021 fiscal year.
For the 12 months ending on June 30th, the company saw a record in net cash of $2 billion. Furthermore, net bookings were up 17 per cent year-on-year for the same period as it hit $5.9 billion.
Moreover, the company spent $78 million on repurchasing shares during Q1. Through doing so, EA completed its $2.4 billion, two-year repurchase programme.
On its mobile front, the American publisher released more than 50 updates across its library throughout quarter one. Furthermore, Season 5 of its hit battle royale title Apex Legends was launched, achieving its highest engagement levels since Season 1. No doubt the publisher will hope for an equally successful result when it potentially soft-launches a mobile version of the game later this year.
A great start
“This was an extraordinary quarter, and we’re deeply proud of everything our teams at Electronic Arts are doing for our players and communities,” said Electronic Arts CEO Andrew Wilson.
“We launched new games, deeply engaged players in our live services, and welcomed tens of millions of new players to our network. It was an unprecedented first quarter of growth in our business, and we will continue building on that strength with more innovative experiences, more groundbreaking content, and more ways to connect with friends and play great games throughout the year.”
Electronic Arts COO and CFO Blake Jorgensen added: “Player engagement through the first quarter was exceptionally high, and well above our forecast. Our Stay Home, Play Together initiatives have been a strong tailwind for the business, as players look for safe and social entertainment in these difficult times. We are focused on delivering high-quality titles for our players, combined with our incredible ongoing live services and increasing reach across platforms and geographies, which should continue to expand our business over time.”
