EA announced the results of the fourth quarter of its fiscal year 2019, in which the company revealed that revenues are down 22% to $1.24 billion, and net income is down 66%, dropping to $209 million. It’s not all bad, however, as the company saw a rise in net bookings of almost 9%, rising to $1.36 billion for the quarter.
The fourth quarter saw the release of Anthem, a title that has been met with a rather stagnant response, and Apex Legends, a title that was met with an incredibly active one. EA’s fourth quarter for 2018 featured the sport title UFC 3, and the EA Originals A Way Out and Fe.
Looking at the fiscal year as a whole, net revenue was down 4%, resting at $4.95 billion, while bookings were down 5% dropping to $4.94 billion. Additionally, net income was off just over 2% at $1.02 billion. It also seems that the shift to digital has been steadily continuing this year, with the publisher revealing digital net bookings for the year of $3.72 billion, or 75% of the company’s total net bookings, up some 7% on last year.
EA isn’t taking a negative outlook on things however, quite the opposite. “We ended our fiscal year with strong growth, driven by our live services business which continued to provide a very large, stable and profitable source of net bookings,” EA COO and CFO Blake Jorgensen said of the results.
The company is looking to make good on its switch to live services, stating that the publisher is looking to “bring games to an extraordinary variety of players in fiscal 2020 and deliver on our commitment to players with deep live services content for Ultimate Team, Apex Legends, The Sims 4, Anthem, and Battlefield V.” With the announcement of plans to bring Apex Legends to Mobile and China, it seems plans are already well underway.
What do you make of EA’s quarterly finances? should the publisher be more concerned than it seems to be? Let us know what you think in the comments below!