EA’s Q3 FY2019 earnings fell short of expectations, but hopefully Star Wars Jedi: Fallen Order will turn things around this fall for the next fiscal year. Maybe the new Need for Speed will help matters, too.
Electronic Arts posted its third-quarter results for Q3, ending December 31, 2018. The financials results fell below expectations, but with plenty of big name titles slated for fall, hopefully things will pick up year-over-year.
The company reported net revenue of $1.289 billion (down from $1.16B yoy), compared to the expected $1.375 billion in net revenue. EA reported digital net bookings of $1.609 billion, which is below the $1.725 billion expected. That said, digital net booking are up 6% year-over-year for the trailing 12 months.
Digital net revenue was $908 million (up from $780M yoy) with retail and other income contributing $381 million (up slightly from $380 yoy).
Net income for the third quarter was $262 million.
“Q3 was a difficult quarter for Electronic Arts and we did not perform to our expectations,” said CEO Andrew Wilson. “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.
“We’re very excited about Apex Legends, the upcoming launch of Anthem, and a deep line-up of new experiences that we’ll bring to our global communities next fiscal year.”
Delaying Battlefield 5 to a heavily contested calendar didn’t work out as planned, causing it to perform below expectations, COO and CFO Blake Jorgensen said on the call to investors. The game sold 7.3 million units in the quarter, much less than expected. The lack of sales was also blamed on focusing more on the single-player content than the multiplayer. The game also didn’t sell as many Access Premiere subs as they thought.
FIFA 19 (20 million units) sales were also flat compared to FIFA 18 (3 million additional units this year). This was due to another “tight” calendar
He added the company is looking forward to releasing Anthem, growing Apex Legends and “related Titanfall experiences.”
The firm will also release a new Plants vs. Zombies and Need for Speed titles, sports titles, and Star Wars Jedi: Fallen Order – which is slated for a fall fall during the holiday period.
The post New Need for Speed and Plants vs Zombies coming this year – EA Q3 FY19 appeared first on VG247.
Source : vg247.com
