Electronic Arts Files 8-K on Financials and Operations
Ticker: EA · Form: 8-K · Filed: May 7, 2024 · CIK: 712515
| Field | Detail |
|---|---|
| Company | Electronic Arts INC. (EA) |
| Form Type | 8-K |
| Filed Date | May 7, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $5.0 billion, $0.19 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-reporting, operations
Related Tickers: EA
TL;DR
EA dropped an 8-K detailing financial results and other key events as of May 3rd.
AI Summary
Electronic Arts Inc. (EA) filed an 8-K on May 7, 2024, reporting on events as of May 3, 2024. The filing primarily concerns the company's results of operations and financial condition, along with other events and financial statements. EA is a Delaware-incorporated company specializing in prepackaged software.
Why It Matters
This filing provides investors with crucial updates on Electronic Arts' financial performance and operational status, impacting their investment decisions.
Risk Assessment
Risk Level: low — This is a routine 8-K filing for reporting financial results and operational updates, not indicating any immediate or unusual risks.
Key Players & Entities
- Electronic Arts Inc. (company) — Registrant
- May 3, 2024 (date) — Date of earliest event reported
- May 7, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of Incorporation
- 209 Redwood Shores Parkway, Redwood City, California 94065-1175 (address) — Address of Principal Executive Offices
FAQ
What specific financial results are being reported in this 8-K?
The filing indicates it concerns 'Results of Operations and Financial Condition' but does not detail specific figures within the provided text.
What are the 'Other Events' mentioned in the filing?
The provided text states 'Other Events' as an item information category but does not specify what those events are.
When was the earliest event reported in this filing?
The earliest event reported was as of May 3, 2024.
What is the principal business address of Electronic Arts Inc.?
The principal executive offices are located at 209 Redwood Shores Parkway, Redwood City, California 94065-1175.
What is the SIC code for Electronic Arts Inc.?
The Standard Industrial Classification (SIC) code is 7372 for SERVICES-PREPACKAGED SOFTWARE.
Filing Stats: 788 words · 3 min read · ~3 pages · Grade level 10.3 · Accepted 2024-05-07 16:12:45
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value EA NASDAQ Global Select Marke
- $5.0 billion — rized a new program to repurchase up to $5.0 billion of EA's common stock. Repurchases under
- $0.19 — f Directors declared a cash dividend of $0.19 per share of EA's common stock. The div
Filing Documents
- ea-20240503.htm (8-K) — 38KB
- earningspressrelease2024_5.htm (EX-99.1) — 581KB
- ealogo050520a.jpg (GRAPHIC) — 6KB
- 0000712515-24-000013.txt ( ) — 780KB
- ea-20240503.xsd (EX-101.SCH) — 2KB
- ea-20240503_lab.xml (EX-101.LAB) — 21KB
- ea-20240503_pre.xml (EX-101.PRE) — 12KB
- ea-20240503_htm.xml (XML) — 3KB
02 Result of Operations and Financial Condition
Item 2.02 Result of Operations and Financial Condition. On May 7, 2024, Electronic Arts Inc. ("Electronic Arts" or "EA") issued a press release announcing its financial results for the fourth fiscal quarter and fiscal year ended March 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1. Neither the information in this Form 8-K nor the information in the press release attached hereto as Exhibit 99.1 shall be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01 Other Events
Item 8.01 Other Events. On May 3, 2024, the Audit Committee of EA, upon delegation from EA's full Board of Directors, authorized a new program to repurchase up to $5.0 billion of EA's common stock. Repurchases under this new stock repurchase program will begin on May 9, 2024 and the program will expire on May 9, 2027. This new stock repurchase program supersedes and replaces the stock repurchase authorization approved by EA's Board of Directors on August 11, 2022, which will terminate effective as of May 8, 2024. Under this program, EA may purchase stock in the open market or through privately-negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. EA is not obligated to repurchase any specific number of shares of common stock under this program and it may be modified, suspended or discontinued at any time. On May 3, 2024, the Audit Committee of EA, on behalf of EA's full Board of Directors declared a cash dividend of $0.19 per share of EA's common stock. The dividend is payable on June 19, 2024 to stockholders of record as of the close of business on May 29, 2024.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated May 7, 2024, relating to Electronic Arts Inc.'s financial results for its fourth fiscal quarter and fiscal year ended March 31, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). INDEX TO EXHIBITS Exhibit No. Description 99.1 Press release dated May 7 , 2024, relating to Electronic Arts Inc.'s financial results for its fourth fiscal quarter and fiscal year ended March 31, 202 4 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ELECTRONIC ARTS INC. Dated: May 7, 2024 By: /s/ Stuart Canfield Stuart Canfield Chief Financial Officer