CEO Andrew Wilson of Electronic Arts summarizes for the company by saying "an excellent second quarter" in today's earnings release, fueled by growth of the ongoing success of Apex Legends which has now achieved a total of 70 million players over its life. Alongside other titles such as FIFA Ultimate Team, Madden Ultimate Team, and The Sims 4.
Electronic Arts reports that digital net bookings for the drawn twelve months reached $3.8 billion (8% year-over-year increase). This is a 78 percent increase over the same period, which emphasizes the ongoing growth of digital revenue share. COO and CFO Blake Jorgensen also mentioned that 50 percent of EA's total unit sales this quarter were digital rather than physical across PS4 and Xbox One, up from 40 percent last year. 51 percent of Madden NFL 20 sales and 34 percent of FIFA 20 sales were digital, up from 42 percent and 29 percent last year.
"The strong results this quarter illustrate the power of our live services and our core franchises." "Strength in Ultimate Team, The Sims 4 and FIFA Online drove live services performance above our expectations" stated COO and CFO Blake Jorgensen.
"Looking ahead, we are doubling down on live services combined with our core franchises. We're investing in games that people play for longer and engage with much more deeply. This focus will continue to drive growth and profitability for the company through the remainder of this year and beyond."
EA strongly asserts upping its net bookings projections slightly from $5.1 billion to $5.125 billion based on a full year of $5.4 billion in net revenue and $2.8 billion in net income. EA expects net revenue of $1.5 billion and net bookings of $1.9 billion for Q3. The company also anticipates the releases of Star Wars Jedi: Fallen Order and Need for Speed Heat alongside Plants vs. Zombies Battle for Neighborville which has already released.
Electronic Arts have also confirmed after a long hiatus, a return to Steam—including games such as Apex Legends, FIFA 20, and Battlefield 5.