EA generated $7.562 billion in its 2024 financial year, up 2% year-over-year with $1.21 billion coming from mobile.
It's good news for Electronic Arts as record cash flow came via the power of EA Sports FCTM, Madden NFL 24 and Madden Mobile in a year packed with 11 title launches and more than 600 content updates.
The results demonstrate success in the rebranding of FIFA to EA Sports FC with net bookings on the rise.
Sporting success
EA’s fiscal year ended on a high note for mobile on March 31st, 2024, with the fourth quarter yielding the most mobile revenue of the year at $307 million. Meanwhile this same quarter was console’s worst, bringing in $1.05 billion while still clearly comprising the bulk of EA’s revenue.
Still, mobile’s strong Q4 was up from $296 million in Q3, although slightly down year-on-year from the $317 million recorded in Q4 2023. Over the full 2024 fiscal year, mobile generated $1.21 billion.
Results were less impressive when looking at GAAP-based operating numbers, as mobile actually lost $9 million in Q4 and $26 million across the year. Console lost $18 million across the year by the same GAAP-based metric.
But net cash provided by operating activities hit a new record of $2.315 billion, increasing by a huge 49% year-over-year. Net income was up too, at $1.27 billion this fiscal year compared to $802 million in the last.
Stocks and strategies
The success has meant that EA also returned $1.505 billion to stockholders through stock repurchases and dividends, while the board has approved a new $5 billion repurchasing programme taking place over the next three years.
"This year, EA delivered bigger, bolder world class entertainment that engaged and connected hundreds of millions of players and fans," said EA CEO Andrew Wilson. "We will continue to build on this strong momentum through an incredible pipeline of new experiences, starting with College Football in FY25, positioning us for accelerated growth in FY26 and beyond."
EA CFO Stuart Canfield added: "EA’s FY24 was highlighted by record cash flow and strong earnings growth driven by EA Sports FCTM and Madden NFL. With strong conviction in our future, we are announcing an expanded stock repurchase program. We look forward to sharing more about our long-term strategy and financial framework at our Investor Day this fall."
A glance at EA's recent records on mobile revenue whow that it increased 82% in Q4 2022 to $313 million, but that growth rate has since remained unmatchable two years running now, instead slightly declining this time around.
