Electronic Arts Inc. (NASDAQ: EA) announced financial results for the third quarter ended December 31, 2018. Battlefield V and Command & Conquer Rivals launched during the third quarter. FIFA Ultimate Team matches that were played increased 15 percent year over year. FIFA 19 was the highest selling console game in Europe for the Calendar Year 2018.
Fiscal Year 2019 Guidance
The company expects net revenue of USD 4.875 Billion and a net income of USD 980 Million. Net bookings are expected to reach USD 4.75 Billion
“The video game industry continues to grow through a year of intense competition and transformational change,” said CEO Andrew Wilson. “Q3 was a difficult quarter for Electronic Arts and we did not perform to our expectations. 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.”
“FIFA stands out as a robust franchise through a tumultuous year in the video game industry,” said COO and CFO Blake Jorgensen. “Elsewhere in the business, we’re making adjustments to improve execution and we’re refocusing R&D. Looking forward, we’re delighted to launch Anthem, our new IP, to grow Apex Legends and related Titanfall experiences, to deliver new Plants vs. Zombies and Need for Speed titles, and to add Star Wars Jedi: Fallen Order to our sports titles in the fall.”