Electronic Arts released their financial report for the third quarter in the 2019 financial year. If you had been following the gaming news for the past few months, you’d know EA had a pretty rough time, and they didn’t hide it in this report. Let’s take a look at some of their highs and lows for this particular quarter.
EA had some pretty rough sales, those including low physical sales release of Battlefield V. CEO Andrew Wilson states, “Q3 was a difficult quarter for Electronic Arts and we did not perform to our expectations. We are now applying the strengths of our company to sharpen our execution and focus on delivering great new games and long-term live services for our players.”
The acknowledgement didn’t hamper their hopes entirely as Wilson had also stated that a number of releases including Anthem, a new title Apex Legends and more are the target of their focus. Before we get into what we can expect in the next few quarters, let’s take a look at how they did in the past quarter.
According to the report, EA’s digital net revenue had increased by over 120 million US dollars compared to the 2018’s 3rd quarter. Compare it to the packaged goods and other net revenue, it barely had any difference. This could mean that the digital markets for EA had been a fairly substantial target for where EA is directing its growth towards.
With that, their expectations for the next quarter which ends March this year is of the following; (all of below is in US dollars)
- Net Revenue is over $1.1 billion
- Mobile Platforms are to reach around $49 million
- Net Income to reach about $170 million
- Diluted earnings per share will be over $0.50
Electronic Arts had suffered a fair bit in the year 2018, however, with various new titles being headed by Anthem and a host of other games, it could be the deciding factor on how well EA will do at the end of the Financial Year. With many controversies fairly fresh in the minds of players and under the watchful eye of shareholders and investors, it can be a major point on how EA dictates their practices for the coming years.
It is to be noted, that while EA had predicted how well they’ll do in the coming quarter, anything may happen. This includes factors outside EA, investors and of course, the player’s control. However, this report gives us a small insight into how the major publisher will head in 2019.
With EA’s report, what will you be expecting from the huge gaming publisher? Are you expecting more controversies or will you expect that EA will turn around from 2018 relatively weak year?