EA’s Q2 financial results reveal $1.44 billion gross profit, with full games only contributing a fraction

Live services represent large share of company revenue

EA’s Q2 financial results reveal $1.44 billion gross profit, with full games only contributing a fraction

With the release of EA’s preliminary Q2 financial results for the period ended 30 September 2022, the number of active accounts on the EA player network has officially surpassed 600 million.

Total net revenue for the quarter reached $1.9 billion, up from 1.8 billion in the same period last year.

Repurchased shares, live services and more

During its Q2, EA repurchased 2.6 million shares to the value of $325 million and brought the 12-month trailing total to 10 million shares for nearly $1.3 billion. Net bookings for the trailing 12 months were up 4 percent year-over-year at $7.381 billion.

In terms of operating cashflow used in and provided by operating activities, EA had $112 million. Gross profit, meanwhile, reached $1.44 billion in Q2; combined with the first quarter, that brings EA’s current gross profit for this fiscal year to $2.9 billion.

The past 12 months up to 30 September have seen EA make $1.997 billion in revenue from its full games themselves, which is only a fraction of revenues compared to its live services income of $5.288 billion. Altogether, these have brought EA’s revenue to $7.285 billion in the past year, compared to $6.396 billion the year before.

By the end of its fiscal year on 31 March 2023, EA expects its net revenue to be somewhere between $7.550 billion and $7.750 billion.

"In Q2, EA delivered strong engagement and deeply immersive experiences across our portfolio, with new EA SPORTS titles and multi-platform live services powering the business," said EA CEO Andrew Wilson.

"More people than ever before are turning to games as their primary platform for social connection and creativity. With EA’s unrivalled IP, talented teams, and growing player network, we are well-positioned to lead the future of entertainment."

EA CFO Chris Suh commented: "Q2 was a solid quarter. We again delivered on our revenue and profit commitments, driven by our EA SPORTS portfolio and our multi-platform live services business. With our resilient business model, disciplined execution, and healthy underlying fundamentals, we are poised to deliver long-term growth."

According to a recent infographic by Superjoost, the majority of EA's income still comes from console, not mobile. EA's new report confirms this, with $1.198 billion in quarterly revenue on console versus $251 million on mobile, which suggests room for growth in this sector.

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