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Electronic Arts Inc. (NASDAQ:EA) Q3 2024 Earnings Conference Call January 30, 2024 5:00 PM ET
Company Participants
Katie Burke - Director of IR
Andrew Wilson - CEO
Stuart Canfield - CFO
Conference Call Participants
Andrew Uerkwitz - Jefferies
Matthew Cost - Morgan Stanley
Eric Handler - ROTH MKM
Brian Pitz - BMO Capital Market
Andrew Marok - Raymond James
Michael Hickey - Benchmark Company
Operator
Good afternoon. My name is Brianna, and I will be your conference operator today. At this time, I would like to welcome everyone to the Electronic Arts Third Quarter Fiscal Year 2024 Earnings Conference Call.
I would now like to turn the conference over to Ms. Katie Burke, Director of Investor Relations. Please go ahead.
Katie Burke
Thank you. Welcome to EA’s third quarter fiscal year 2024 earnings call. With me today are Andrew Wilson, our CEO; and Stuart Canfield, our CFO.
Please note that our SEC filings and our earnings release are available at ir.ea.com. In addition, we have posted detailed earnings slides to accompany our prepared remarks. Lastly, after the call, we will post our prepared remarks, an audio replay of this call, and a transcript.
With regards to our calendar: our fourth quarter fiscal year 2024 earnings call is scheduled for Tuesday, May 7. As a reminder, we post the schedule of upcoming earnings calls for the fiscal year on our IR website.
This presentation and our comments include forward-looking statements regarding future events and the future financial performance of the Company. Actual events and results may differ materially from our expectations. We refer you to our most recent Form 10-Q for a discussion of risks that could cause actual results to differ materially from those discussed today. Electronic Arts makes these statements as of today, January 30, 2024, and disclaims any duty to update them.
During this call, the financial metrics, with the exception of free cash flow, will be presented on a GAAP basis. Please see our earnings slides for further information. All comparisons made in the course of this call, are against the same period in the prior year unless otherwise stated.
Now, I’ll turn the call over to Andrew.
Andrew Wilson
Thanks, Katie.
It was a strong Q3, as we continue to entertain hundreds of millions of players and fans around the world. Our exceptional teams created high-quality games and experiences across our broad portfolio that, drove deep engagement and record live services.
This quarter, two of the world's most celebrated interactive entertainment experiences EA SPORTS FC and EA SPORTS Madden NFL delivered phenomenal strength, as sizable drivers of long-term growth. We are launching amazing games and experiences that entertain massive online communities, create blockbuster interactive storytelling, and harness the power of community in and around our games.
EA's Q3 results are a great example of our execution across our strategy. The FC platform is thriving at the center of the action, fandom, and culture of the world's game. The launch of EA SPORTS FC 24 has been a great success and has, once again, outperformed our expectations. Players are connecting, competing, and celebrating global football with their friends, driving strong engagement across FC's multi-experience ecosystem.
In Q3, players dove into Ultimate Team, driving double-digit net bookings growth and delivering the franchise's biggest net bookings week ever. FC Mobile also generated deep engagement with daily active users up by 29% year-over-year, while FC Online grew new players by 20% year-over-year.
In calendar 2023, Madden NFL was the best-selling sports game in North America and continues to grow. Madden NFL 24, is engaging more players year-over-year through new, innovative gameplay features and compelling live services. In Q3, net bookings grew and engagement with Ultimate Team increased 19%.
Madden Mobile also saw an increase in players during the quarter, generating double-digit growth across the community. Our business is gaining momentum as our communities continue to grow and the definition of play rapidly expands, to include watching gameplay, creating user generated content, and connecting with friends and families in and around beloved IP.
There are billions of players around the world and this number, is expected to increase as younger generations choose gaming as their number one form of entertainment, generating incredible opportunities, for us to engage and deliver new experiences. The evolving worlds, unfolding stories, and rich characters of our live services are deepening players' relationship with our IP and broadening the global appeal of our portfolio.
To further entertain our communities, we are building more ways for them to play, watch, create, and connect to generate growth and longevity in our biggest franchises. The Sims franchise, is the definitive life for simulation experience, offering its multi-generational community incredible ways to connect, create, and express their individuality.
During calendar 2023, players have spent an astounding 1.8 billion hours in the Sims 4, a nearly 30% increase from the prior year. We remain committed to the global growth and innovation of this franchise. We're focused on delivering what the community wants most, from ongoing, new content and game modes for the Sims 4, to the social innovation, expansion, and connection in our future Sims release.
Millions of passionate fans continue to come together through the nonstop action of Battlefield. The Battlefield 2042 community continues to grow, with total players up 17% year-over-year, and Season 6 live services driving strong engagement with weekly average users up 37% year-over-year. Our team is working hard to deliver for the community with increasingly engaging live services, like the recent announcement of Season 7 with new maps, weekly missions, and much more.
In addition, we are making investments in the future of the franchise. Our exceptional teams from multiple world class studios, working with cutting-edge Frostbite technology, are building an expansive, community-focused Battlefield universe for fans all over the world.
As a category leader with millions of loyal fans, we are looking forward to celebrating the fifth anniversary of Apex Legends. Over the past few months, we have listened closely to our community, and have deployed new features, new styles of play, and new content. We have also implemented tools, to better understand day-to-day game performance.
Electronic Arts Inc. (NASDAQ:EA) Q3 2024 Earnings Conference Call January 30, 2024 5:00 PM ET
Company Participants
Katie Burke - 投资关系总监
Andrew Wilson - CEO 安德鲁·威尔逊 - CEO
Stuart Canfield -首席财务官
Conference Call Participants
安德鲁·乌尔克维茨-杰菲理斯
马修·科斯特 - 摩根斯坦利
Eric Handler - ROTH MKM
布莱恩·皮茨 - BMO资本市场
Andrew Marok - Raymond James 安德鲁·马罗克 - 雷蒙德·詹姆斯
迈克尔·希克 - 基准公司
Operator
下午好。我是Brianna，今天将担任您的会议管理员。此时，我想欢迎每个人参加2024财年第三季度艺电公司收益电话会议。
我现在想把会议交给Katie Burke女士，投资者关系总监。请开始。
Katie Burke
谢谢。欢迎参加EA 2024财年第三季度收益电话会议。今天和我在一起的是我们的首席执行官安德鲁·威尔逊，以及我们的首席财务官斯图尔特·坎菲尔德。
请注意，我们的SEC备案和盈利发布可以在ir.ea.com上找到。此外，我们还发布了详细的盈利幻灯片，以配合我们的准备发言。最后，在通话结束后，我们将发布我们的准备发言、本次通话的音频回放和文字记录。
关于我们的日历：我们2024财政年度第四季度收益电话会议定于周二，5月7日举行。提醒一下，我们会在投资者关系网站上发布全年财务电话会议的日程安排。
此演示和我们的评论包含关于公司未来事件和未来财务表现的前瞻性声明。实际事件和结果可能与我们的期望有着实质差异。我们建议您查看我们最近的10-Q表格，了解可能导致实际结果与今天讨论有实质差异的风险。艺电在今天2024年1月30日作出这些声明，并声明不承担更新它们的责任。
在这个通话过程中，除了自由现金流之外，财务指标将以通用会计准则为基础进行呈现。请参阅我们的收益幻灯片以获取更多信息。在本通话过程中进行的所有比较都是与前一年同期进行的，除非另有说明。
现在我把通话转给 Andrew。
Andrew Wilson
多谢，已告知Katie。
这是一个强劲的第三季度，我们继续在全球娱乐数亿玩家和粉丝。我们出色的团队在我们广泛的产品组合中创造了高质量的游戏和体验，推动了深度参与和创下了直播服务记录。
在本季度中，全球两大备受赞誉的互动娱乐体验 EA SPORTS FC 和 EA SPORTS Madden NFL 手游展现出了强劲的发展势头，成为了长期增长的重要推动力。我们正在推出一系列令人惊叹的游戏和体验，为庞大的在线社区带来娱乐，并创造了轰动的互动故事，利用游戏内外的社群力量。
EA的第三季度业绩是我们战略执行的一个很好的例子。FC平台正在成为世界游戏行动、风尚和文化的中心。EA SPORTS FC 24的推出取得了巨大成功，再次超出了我们的预期。玩家们正在与朋友们联系、竞争，并在FC的多体验生态系统中庆祝全球足球，推动了强劲的参与度。
在第三季度，玩家们投入了《终极团队》，推动了两位数净交易额增长，并取得了该系列有史以来最大的净交易额周。FC手机游戏还带来了强烈的参与度，日活跃用户同比增长了29％，而FC在线游戏的新玩家同比增长了20％。
在2023年的日历中，Madden NFL成为了北美最畅销的体育游戏，并且持续增长。Madden NFL 24通过全新的创新玩法特色和引人入胜的实时服务，每年都吸引着更多玩家。在第三季度，净收入增长了，并且终极团队的参与度增加了19%。
《麦迪足球手机版》在本季度也迎来玩家增加，社区内的增长率呈现两位数增长。随着我们社区的不断壮大和玩法定义的快速拓展，业务正积聚势头，玩家纷纷加入观赏游戏实况、创作用户生成内容、并在所喜爱的知识产权周围与朋友和家人保持联系。
全球有数十亿玩家，预计随着年轻一代选择游戏作为他们首选的娱乐方式，这一数字将继续增长，为我们创造了令人难以置信的机遇，以吸引他们并提供新的体验。我们的即时服务中不断发展的世界、不断展开的故事和丰富的角色，不断深化了玩家与我们的知识产权的关系，扩大了我们的作品在全球范围内的吸引力。
为了进一步娱乐我们的社区，我们正在创建更多的方式，让他们玩耍、观看、创造和连接，以促进我们最重要的系列的增长和持久性。《模拟人生》系列是终极的生活模拟体验，为其跨世代社区提供了令人难以置信的方式来连接、创造和表达个性。
在2023年的日历年里，玩家在《模拟人生4》中已经累计花费了惊人的18亿小时，比前一年增长了将近30%。我们仍致力于该系列的全球增长和创新。我们专注于为社区提供他们最想要的内容，从不断更新的新内容和游戏模式到我们未来《模拟人生》系列中的社交创新、扩展与连接。
数以百万计的热情粉丝通过《战地》游戏中不断激烈的战斗持续聚集在一起。《战地2042》社区不断壮大，总玩家人数同比增长了17%，并且第六赛季的在线服务带动用户参与度同比增长了37%。我们的团队正在努力为社区提供越来越引人入胜的在线服务，比如最近宣布的第七赛季将带来新地图、每周任务等等。
另外，我们正对这个特许经营的未来进行投资。我们来自多个世界一流工作室的出色团队正在利用尖端的Frostbite技术，为全球粉丝打造一个广阔且以社区为中心的战地系列宇宙。
作为拥有数百万忠实粉丝的类别领导者，我们期待着庆祝《Apex Legends》五周年。在过去的几个月里，我们密切听取了我们的社区的意见，并推出了新功能、新的游戏风格和新内容。我们还实施了工具，以更好地了解游戏的日常表现。
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