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Electronic Arts today released its final earnings report for fiscal year 2023, which includes its fourth quarter performance. Net bookings in Q4 rose by 11% year-on-year to $1.9 billion, while total net bookings for the year came in around $7.4 billion. The results for the quarter and the year show strong growth for the company, which is propelled largely by its biggest franchises like Apex Legends and FIFA.
According to EA’s report, most of this success was driven by its ongoing franchises, such as the aforementioned Apex Legends. The title saw a surge in player activity in Q4, and according to EA CEO Andrew Wilson, it has maintained an average 20 million monthly active users throughout the year. The company added that The Sims surpassed 70 million players in this fiscal year.
EA credited FIFA 23 with boosting its numbers. The latest entry was the most successful launch in franchise history and surpassed the lifetime sales of its predecessor within six months. Its net bookings grew 31% year-over-year compared with FIFA 22. It’s also the last game EA will release under the FIFA label. Starting next year, the franchise is EA Sports FC.
EA’s eyes to the future
Electronic Arts released its forecast for fiscal year 2024. Its predicts net bookings of between $7.3 and $7.7 billion, in part because it expects lower sales for EA Sports FC due to the change in branding. It also expects $1.5 to $1.6 billion in net bookings for the first quarter of the year that ends on June 30. The company’s stock rose in response to this news, closing the day at $125.41.
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It’s also worth noting that EA announced in March that it was laying off 6% of its workforce. The company said this move was designed to improve its focus, but the decision potentially affects hundreds of staff. Wilson said at the opening of his remarks that the company remained strong “against macro uncertainty
and constant change,” and “navigated the year with resilience and determination.”
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