Electronic Arts Q1 FY25 Filing

TL;DR

EA's Q1 FY25 10-Q is in. Check financials.

AI Summary

Electronic Arts Inc. (EA) filed its 10-Q for the period ending June 30, 2024. The company reported its financial results for the first quarter of fiscal year 2025. Key financial data and operational details for this period are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Electronic Arts, a major player in the video game industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate or significant new risks.

Key Numbers

• 2024-06-30 — Reporting Period End (Fiscal quarter ending date)
• 2024-08-02 — Filing Date (Date the 10-Q was submitted to the SEC)

Key Players & Entities

• ELECTRONIC ARTS INC. (company) — Filer
• 20240630 (date) — Reporting period end date
• 20240802 (date) — Filing date
• 209 REDWOOD SHORES PARKWAY (location) — Company Business Address
• REDWOOD CITY, CA (location) — Company Business City and State

FAQ

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 par value EA NASDAQ Global Select Marke

Filing Documents

• ea-20240630.htm (10-Q) — 1498KB
• ex-101electronicartsincexe.htm (EX-10.1) — 36KB
• ex-102addendumtothexboxcon.htm (EX-10.2) — 73KB
• ex-151awarenessletterofkpm.htm (EX-15.1) — 3KB
• ex-311sec302ceocert63024.htm (EX-31.1) — 11KB
• ex-312sec302cfocert63024.htm (EX-31.2) — 11KB
• ex-321sec906ceocert63024.htm (EX-32.1) — 6KB
• ex-322sec906cfocert63024.htm (EX-32.2) — 6KB
• 0000712515-24-000039.txt ( ) — 9353KB
• ea-20240630.xsd (EX-101.SCH) — 64KB
• ea-20240630_cal.xml (EX-101.CAL) — 79KB
• ea-20240630_def.xml (EX-101.DEF) — 316KB
• ea-20240630_lab.xml (EX-101.LAB) — 735KB
• ea-20240630_pre.xml (EX-101.PRE) — 546KB
• ea-20240630_htm.xml (XML) — 1656KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and March 31, 2024 3 Condensed Consolidated Statements of Operations for the Three Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Report of Independent Registered Public Accounting Firm 27

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 42

- OTHER INFORMATION

Part II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 52

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 52

Other Information

Item 5. Other Information 52

Exhibits

Item 6. Exhibits 52 Exhibit Index 53 Signature 54 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) ELECTRONIC ARTS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except par value data) June 30, 2024 March 31, 2024 (a) ASSETS Current assets: Cash and cash equivalents $ 2,400 $ 2,900 Short-term investments 366 362 Receivables, net 433 565 Other current assets 388 420 Total current assets 3,587 4,247 Property and equipment, net 558 578 Goodwill 5,379 5,379 Acquisition-related intangibles, net 373 400 Deferred income taxes, net 2,393 2,380 Other assets 418 436 TOTAL ASSETS $ 12,708 $ 13,420 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 80 $ 110 Accrued and other current liabilities 976 1,166 Deferred net revenue (online-enabled games) 1,412 1,814 Total current liabilities 2,468 3,090 Senior notes, net 1,882 1,882 Income tax obligations 525 497 Deferred income taxes, net 1 1 Other liabilities 432 437 Total liabilities 5,308 5,907 Commitments and contingencies (See Note 12 ) Stockholders' equity: Common stock, $ 0.01 par value. 1,000 shares authorized; 265 and 266 shares issued and outstanding, respectively 3 3 Additional paid-in capital — — Retained earnings 7,457 7,582 Accumulated other comprehensive income (loss) ( 60 ) ( 72 ) Total stockholders' equity 7,400 7,513 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 12,708 $ 13,420 See accompanying Notes to Condensed Consolidated Financial Statements (unaudited). (a) Derived from audited Consolidated Financial Statements. 3 Table of Contents ELECTRONIC ARTS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, (In millions, except per share data) 2024 2023 Net revenue $ 1,660 $ 1,924 Cost of revenue 263 368 Gross profit 1,397 1,556 Operating expenses: Research and development 629 596 Marketing and sales 205 229 General and administrative 180 163 Amortization and impairment

View Full Filing

View this 10-Q filing on SEC EDGAR