American video game company Electronic Arts (EA) has published its Q2 2024 earning report stating a massive growth in net revenue of $1.914B and mobile titles shared a large portion of it. Two of its major mobile adaptations, EA Sports Madden NFL 24 and EA Sports FC 24 performed insane results in earnings. CEO of EA quoted them as “foundational drivers of growth” which brought the company the biggest sports year so far. The net booking reached $1.82B where mobile titles contributed $279 million which is a 6% growth over the previous quarter. Summarizing the 12-month journey, mobile titles have contributed $1.2B of its total booking which is close to $7.7B after Q2 FY24.
“We delivered a strong Q2 and successfully launched EA SPORTS FC, transforming one of the largest franchises in the world into a powerful, interactive platform for the future of football fandom,” said Andrew Wilson, CEO of EA. “Looking ahead, our incredible teams will continue to innovate and expand across our world-class IP, building experiences that entertain our massive online communities, celebrate fandom, and increase connection for our growing global player base.”
Electronic Arts (EA) Q2 2024: Mobile titles became massively successful in bringing net revenue
EA Sports Madden NFL 24 provided the preeminent interactive American football experience with elevated realism, control, and gameplay. The title has gained 10% more players than the previous year and the weekly growth is increasing at the same rate as well. This provides a 20% larger community that the company has been able to build.
EA SPORTS FC 24 gained over 14.5 million active players on console and PC within the first month after its release. The multi-platform ecosystem of mobile, console, and PC helped the hype turn to be real in numbers. The encouraging launch of the game shaped the very foundation of a changing revenue scene for the company.
In the earning call, the issue with FIFA again came up. Parting away with FIFA with EA FC didn’t affect the company much. The experience players are getting is the core behind the title’s performance. The company will work with partners around the world in a way they want to work with.
EA has gained success in building online communities, amplifying the power connection
Andrew Wilson, the CEO, stated that the Q2 for EA in 2023 was quite successful for the company as it delivered results above expectations. Besides, the company witnessed a successful strategic run on building massive online communities. It also managed to amplify the social connection power which will bring multiyear growth and provide long-term value in service for its players and shareholders.
EA is sitting at a market cap of $34B as per NASDAQ’s report on the 2nd of November 2023. With experiencing decent growth in Q2 2024, we have to wait till the next report comes to see if the company is on the way to reaching its goals or else. With the growth the company is experiencing now, it aims to reach a net revenue to be approximately $1.825 billion to $2.025 billion in Q3. Following the net revenue of Q2 2024, Electronic Arts (EA) scheduled its third quarter fiscal year 2024 earnings call for the 30th of January 2024.
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