ELECTRONIC ARTS Reports First Quarter Earnings Results for FY2024 Ending June 30 2023
August 9, 2023
🌥️Earnings Overview
On August 1 2023, ELECTRONIC ARTS ($NASDAQ:EA) reported their first quarter of FY2024 earnings results, ending on June 30 2023. Their total revenue was USD 1924.0 million, an 8.9% increase from the same period last year, and their net income was USD 402.0 million, a 29.3% year-over-year growth.
Market Price
The stock opened at $135.5 and closed at $136.1, down by 0.2% from the previous closing price of $136.4. The company is confident of continued strong performance from existing franchises and their commitment to new content in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Electronic Arts. More…
| Total Revenues | Net Income | Net Margin |
| 7.58k | 893 | 12.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Electronic Arts. More…
| Operations | Investing | Financing |
| 1.99k | -196 | -1.61k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Electronic Arts. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.08k | 5.75k | 26.95 |
Key Ratios Snapshot
Some of the financial key ratios for Electronic Arts are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.4% | 0.9% | 19.6% |
| FCF Margin | ROE | ROA |
| 23.7% | 12.7% | 7.1% |
Analysis
GoodWhale conducted an analysis of ELECTRONIC ARTS‘s wellbeing, and based on the Star Chart, we classified the company as ‘rhino’, a type of company with moderate revenue or earnings growth. Investors interested in such a company will likely be looking for strong profitability and medium-level assets, dividends, and growth. ELECTRONIC ARTS has a high health score of 9/10 with regard to its cashflows and debt, indicating that the company is capable of sustaining future operations in times of crisis. We believe these factors combined will make ELECTRONIC ARTS an attractive option for investors looking for a stable and healthy long-term investment. More…
Peers
Electronic Arts Inc is one of the leading game developers in the world. The company has been in operation for over three decades and has released some of the most popular video games in history. Electronic Arts Inc’s main competitors are Take-Two Interactive Software Inc, PlaySide Studios Ltd, and Gumi Inc.
– Take-Two Interactive Software Inc ($NASDAQ:TTWO)
Take-Two Interactive Software Inc is a publicly traded video game holding company based in New York City. The company owns two major publishing labels, Rockstar Games and 2K, itself composed of multiple studios. Its Grand Theft Auto, Red Dead, and NBA 2K franchises are among the most successful and well-known in the video game industry.
– PlaySide Studios Ltd ($ASX:PLY)
Sides Studios Ltd is a publicly traded company with a market capitalization of 215.5 million as of 2022. The company has a return on equity of 7.79%. Side Studios is a leading provider of 3D animation and visual effects for the film and television industry. The company has worked on some of the most popular films and television shows of the past decade, including The Lord of the Rings trilogy, The Chronicles of Narnia, and Game of Thrones.
– Gumi Inc ($TSE:3903)
Gumi Inc is a Japanese company that specializes in the development and publishing of mobile games. The company has a market cap of 27.96B as of 2022 and a Return on Equity of -33.77%. Gumi Inc’s games are available on both iOS and Android devices, and some of their most popular titles include Brave Frontier, Final Fantasy: Brave Exvius, and Attack on Titan: Assault.
Summary
ELECTRONIC ARTS reported strong financial results for the first quarter of FY2024, with total revenue of USD 1924.0 million, representing an 8.9% year-over-year increase, and net income of USD 402.0 million, a 29.3% year-over-year growth. This impressive performance indicates that ELECTRONIC ARTS is a solid investment opportunity. Investors should be encouraged by the company’s ability to consistently deliver strong results, as well as the potential for further growth in the future. With its strong track record and consistent financial performance, ELECTRONIC ARTS remains a smart choice for investors looking for solid returns.
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