The earnings call reflects a strong quarter for EA, with record net bookings and successful expansions in American and global football. However, challenges remain in non-sports live services, particularly with Apex Legends. The company has raised its full-year guidance, indicating confidence in continued growth.

Company Guidance

During the Electronic Arts (EA) Q2 2025 earnings call, the company provided guidance reflecting a strong performance and raised its full-year outlook. EA reported a Q2 net booking of $2.08 billion, a 14% year-over-year increase, driven by the success of its EA Sports franchises, particularly in American football, where new players more than doubled year-over-year. The company expects FY 2025 net bookings to be between $7.5 billion and $7.8 billion, representing a 1% to 5% increase from the previous year. GAAP net revenue guidance was also raised to a range of $7.4 billion to $7.7 billion, with operating margins expected to be between 19.3% and 21.1%. EA anticipates net bookings growth in its EA Sports FC franchise and aims to generate over $1 billion in net bookings from its American football ecosystem. Despite lowered expectations for Apex Legends, EA maintains a mid-single-digit growth forecast for its core live services. Additionally, EA raised its operating cash flow guidance to a range of $2.075 billion to $2.275 billion, with capital expenditures projected at $225 million.

Record Net Bookings

Q2 net bookings were $2.08 billion, up 14% year-over-year, exceeding expectations.

American Football Ecosystem Expansion

Successful launch of College Football 25, with new players more than doubling year-over-year, and total hours played up over 140%.

EA Sports FC Global Reach

On a trailing 12-month basis, EA Sports FC is the largest franchise in the Western world, with player reach increasing over 130% globally.

Increased Full Year Guidance

Raised FY '25 guidance for net bookings to $7.5 billion to $7.8 billion, up 1% to 5% year-over-year.

Strong Live Services Performance

Live services net bookings were $1.25 billion, up 10% year-over-year.

Successful Launch of Dragon Age: The Veilguard

Early critic scores are strong, indicating a high-quality title with breakout potential.

Strong Operating Cash Flow

Record Q2 operating cash flow of $234 million, more than double the prior year period.

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Electronic Arts (EA) Earnings, Revenues Date & History

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EA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2025	2025 (Q3)	3.43 / -	2.963	―	―	―
Oct 29, 2024	2025 (Q2)	2.03 / 2.26	1.466	54.43% (+0.80)
Jul 30, 2024	2025 (Q1)	0.41 / 0.51	1.138	-54.83% (-0.62)
May 07, 2024	2024 (Q4)	1.52 / 1.37	1.781	-23.08% (-0.41)
Jan 30, 2024	2024 (Q3)	2.93 / 2.96	2.798	5.90% (+0.17)
Nov 01, 2023	2024 (Q2)	1.25 / 1.47	1.446	1.38% (+0.02)
Aug 01, 2023	2024 (Q1)	1.02 / 1.14	0.469	142.64% (+0.67)
May 09, 2023	2023 (Q4)	1.34 / 1.78	1.323	34.62% (+0.46)
Jan 31, 2023	2023 (Q3)	3.04 / 2.80	3.17	-11.74% (-0.37)
Nov 01, 2022	2023 (Q2)	1.37 / 1.45	1.807	-19.98% (-0.36)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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EA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$145.62	$149.14	+2.42%
Jul 30, 2024	$148.93	$150.75	+1.22%
May 07, 2024	$129.89	$124.90	-3.84%
Jan 30, 2024	$136.99	$137.02	+0.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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