US publishing giant Electronic Arts has reported its financials with the company's football blockbuster EA Sports FC 24 helping to drive its growth.
In its release to investors for the three months ending December 31st, 2023, the firm reported revenue of $1.95 billion for the quarter, a three per cent increase year-on-year. Net income was up 42 per cent, clocking in at $290 million. Net bookings stood steady at $2.37 billion, a modest increase of one per cent.
Electronic Arts reports that EA Sports FC outperformed its expectations, with a seven per cent increase in net bookings year-on-year. That's even more impressive when you recall that there was a World Cup in 2022. CFO Stuart Canfield told investors that there was strength in EA Sports FC Ultimate Team live service business offset "some softness" in full game sales.
Meanwhile, Madden NFL saw a five per cent increase in net bookings.
EA Sports FC 24 launched in September of last year. It's the first entry in the company's new football brand after Electronic Arts stopped working with FIFA.
Meanwhile, the company reported that Apex Legends did not meet its expectations for the quarter.