Electronic Arts Inc. (NASDAQ: EA) today announced preliminary
financial results for its third fiscal quarter ended December 31,
2020.
“We’re bringing great entertainment to hundreds of millions of
people all over the world,” said CEO Andrew Wilson. “Our amazing
teams continue to deliver exceptional, high-quality experiences as
more players connect with their friends and engage deeply with our
games. With our expansion plans for EA SPORTS, strong catalogue of
owned IP, leading live services, and ability to span every
platform, we are growing to reach an even larger audience.”
“We delivered another strong quarter, driven by live services
outperformance in Ultimate Team and Apex Legends,” said COO and CFO
Blake Jorgensen. “We are raising our net bookings outlook for the
full year on the strength we continue to see in our business.
Looking further ahead, even with the upside this year, we
anticipate delivering growth in fiscal 2022, driven by the next
Battlefield.”
EA has posted a slide presentation and a financial model of EA’s
historical results and guidance on EA’s IR website at
www.ir.ea.com. EA will also post the prepared remarks and a
transcript from the conference call on EA’s IR website. News and
ongoing updates regarding EA and its games are available on EA’s
blog at www.ea.com/news.
Selected Operating Highlights and
Metrics
- Net bookings* for the trailing twelve months was $5.956
billion, up 8% year-over-year.
- Launched FIFA 21, Medal of HonorTM: Above and Beyond, Need for
SpeedTM Hot Pursuit Remastered, and NHL 21 during the quarter.
- Launched FIFA 21 and Madden NFL 21 on next generation consoles
during the quarter.
- Over the past fiscal year, EA SPORTSTM franchises have engaged
more than 230 million people.
- FIFA Ultimate TeamTM had a record of nearly 6 million daily
active players in December.
- Apex LegendsTM had 30% growth in new players,
year-over-year.
- The SimsTM 4, life to date, has more than 33 million players
and reached record daily, weekly, and monthly average players in
December.
* Net bookings is defined as the net amount of products and
services sold digitally or sold-in physically in the period. Net
bookings is calculated by adding total net revenue to the change in
deferred net revenue for online-enabled games.
Selected Financial Highlights and
Metrics
- Net cash provided by operating activities was $1.124 billion
for the quarter and a record $2.061 billion for the trailing twelve
months.
- EA repurchased 2.5 million shares for $326 million during the
quarter, bringing the total for the last twelve months to 5.9
million shares for $695 million.
- EA paid a cash dividend of $0.17 per share during the
quarter.
Dividend
EA has declared a quarterly cash dividend of $0.17 per share of
the Company’s common stock. The dividend is payable on March 24,
2021 to shareholders of record as of the close of business on March
3, 2021.
Quarterly Financial
Highlights
Three Months Ended December 31,
2020
2019
(in $ millions, except per share amounts) Full game
722
689
Live services and other
951
904
Total net revenue
1,673
1,593
Net income
211
346
Diluted earnings per share
0.72
1.18
Operating cash flow
1,124
1,104
Value of shares repurchased
326
305
Number of shares repurchased
2.5
3.1
The following GAAP-based financial data and tax rate of 18% was
used internally by company management to adjust its GAAP results in
order to assess EA’s operating results:
Three Months Ended December 31, 2020 GAAP-Based Financial
Data (in $ millions)
Statement ofOperations
Acquisition-relatedexpenses Change indeferred
netrevenue(online-enabledgames) Stock-basedcompensation
Total net revenue
1,673
-
727
-
Cost of revenue
601
-
-
(1
)
Gross profit
1,072
-
727
1
Total operating expenses
821
(5
)
-
(110
)
Operating income
251
5
727
111
Interest and other income, net
(6
)
-
-
-
Income before provision for income taxes
245
5
727
111
Number of shares used in computation: Diluted
292
For more information about the nature of the GAAP-based
financial data, please refer to EA’s Form 10-K for the fiscal year
ended March 31, 2020.
Financial Highlights for the Trailing
Twelve Months
Twelve Months Ended December 31,
2020
2019
(in $ millions) Full game
1,719
1,838
Live services and other
3,951
3,550
Total net revenue
5,670
5,388
Net income
1,179
*2,830 Operating cash flow
2,061
1,898
Value of shares repurchased
695
1,217
Number of shares repurchased
5.9
12.8
*Includes the impact of one-time tax benefits recognized
during the period.
The following GAAP-based financial data and tax rate of 18% was
used internally by company management to adjust its GAAP results in
order to assess EA’s operating results:
Twelve Months Ended December 31, 2020 GAAP-Based
Financial Data (in $ millions)
Statement ofOperations
Acquisition-relatedexpenses Change indeferred
netrevenue(online-enabledgames) Stock-basedcompensation
Total net revenue
5,670
-
286
-
Cost of revenue
1,444
(3
)
-
(5
)
Gross profit
4,226
3
286
5
Total operating expenses
2,954
(22
)
-
(412
)
Operating income
1,272
25
286
417
Interest and other income, net
(6
)
-
-
-
Income before provision for income taxes
1,266
25
286
417
For more information about the nature of the GAAP-based
financial data, please refer to EA’s Form 10-K for the fiscal year
ended March 31, 2020.
Operating Metric
The following is a calculation of our total net bookings for the
periods presented:
Three Months Ended Twelve Months Ended December
31, December 31,
2020
2019* 2020* 2019* (in $ millions) Total net
revenue
1,673
1,593
5,670
5,388
Change in deferred net revenue (online-enabled games)
727
428
286
139
Net bookings
2,400
2,021
5,956
5,527
*At the beginning of FY21, EA changed the way in which it
presents net bookings. Periods prior to the first quarter of FY21
have been recast for comparability to align with these changes. For
more information, please see the Financial Reporting FAQ on our IR
website.
Business Outlook as of February 2,
2021
The following forward-looking
statements reflect expectations as of February 2, 2021. Electronic
Arts assumes no obligation to update these statements. Results may
be materially different and are affected by many factors detailed
in this release and in EA’s annual and quarterly SEC
filings.
Fiscal Year 2021 Expectations – Ending March 31, 2021
Financial metrics:
- Net revenue is expected to be approximately $5.600 billion.
- Change in deferred net revenue (online-enabled games) is
expected to be approximately $475 million.
- Net income is expected to be approximately $742 million.
- Diluted earnings per share is expected to be approximately
$2.54.
- Operating cash flow is expected to be approximately $1.850
billion.
- The Company estimates a share count of 292 million for purposes
of calculating fiscal year 2021 diluted earnings per share.
Operational metric:
- Net bookings is expected to be approximately $6.075
billion.
In addition, the following outlook for GAAP-based financial data
and a long-term tax rate of 18% are used internally by EA to adjust
our GAAP expectations to assess EA’s operating results and plan for
future periods:
Twelve Months Ending March 31, 2021 GAAP-Based Financial
Data GAAPGuidance Acquisition-relatedexpenses
Change indeferred netrevenue (online-enabled games)
Stock-basedcompensation (in $ millions) Total net revenue
5,600
-
475
-
Cost of revenue
1,477
-
-
(4
)
Operating expense
3,074
(20
)
-
(436
)
Income before provision for income taxes
1,024
20
475
440
Net income
742
Number of shares used in computation: Diluted shares
292
Fourth Quarter Fiscal Year 2021 Expectations – Ending March
31, 2021
Financial metrics:
- Net revenue is expected to be approximately $1.317 billion.
- Change in deferred net revenue (online-enabled games) is
expected to be approximately $58 million.
- Net loss is expected to be approximately ($19) million; this
forecast includes the impact of an incremental tax accounting
charge of ($152) million.
- Loss per share is expected to be approximately ($0.07), which
includes ($0.52) per share from the tax accounting charge.
- The Company estimates a GAAP basic and diluted share count of
289 million shares due to a forecasted net loss. If the Company
reports net income instead of a net loss, diluted share count for
calculating diluted earnings per share would be 292 million
shares.
Operational metric:
- Net bookings is expected to be approximately $1.375
billion.
In addition, the following outlook for GAAP-based financial data
and a long-term tax rate of 18% are used internally by EA to adjust
our GAAP expectations to assess EA’s operating results and plan for
future periods:
Three Months Ending March 31, 2021 GAAP-Based Financial
Data GAAPGuidance Acquisition-relatedexpenses
Change indeferred netrevenue (online-enabled games)
Stock-basedcompensation (in $ millions) Total net revenue
1,317
-
58
-
Cost of revenue
302
-
-
-
Operating expense
837
(4
)
-
(114
)
Income before provision for income taxes
172
4
58
114
Net loss
(19
)
Number of shares used in computation: Basic shares
289
Diluted shares
292
For more information about the nature of the GAAP-based
financial data, please refer to EA’s Form 10-K for the fiscal year
ended March 31, 2020.
Conference Call and Supporting
Documents
Electronic Arts will host a conference call on February 2, 2021
at 2:00 pm PT (5:00 pm ET) to review its results for the third
fiscal quarter ended December 31, 2020 and its outlook for the
future. During the course of the call, Electronic Arts may disclose
material developments affecting its business and/or financial
performance. Listeners may access the conference call live through
the following dial-in number (866) 324-3683 (domestic) or (509)
844-0959 (international), using the conference code 3695237 or via
webcast at EA’s IR Website at http://ir.ea.com.
EA has posted a slide presentation with a financial model of
EA’s historical results and guidance on EA’s IR Website. EA will
also post the prepared remarks and a transcript from the conference
call on EA’s IR Website.
A dial-in replay of the conference call will be available until
February 16, 2021 at 855-859-2056 (domestic) or 404-537-3406
(international) using pin code 3695237. An audio webcast replay of
the conference call will be available for one year on EA’s IR
Website.
Forward-Looking Statements
Some statements set forth in this release, including the
information relating to EA’s fiscal 2021 expectations under the
heading “Business Outlook as of February 2, 2021,” and other
information regarding EA's fiscal 2021 and fiscal 2022 expectations
contain forward-looking statements that are subject to change.
Statements including words such as “anticipate,” “believe,”
“expect,” “intend,” “estimate,” “plan,” “predict,” “seek,” “goal,”
“will,” “may,” “likely,” “should,” “could” (and the negative of any
of these terms), “future” and similar expressions also identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance and reflect management’s
current expectations. Our actual results could differ materially
from those discussed in the forward-looking statements.
Some of the factors which could cause the Company’s results to
differ materially from its expectations include the following: the
impact of the COVID-19 pandemic, sales of the Company’s products
and services; the Company’s ability to develop and support digital
products and services, including managing online security and
privacy; outages of our products, services and technological
infrastructure; the Company’s ability to manage expenses; the
competition in the interactive entertainment industry; governmental
regulations; the effectiveness of the Company’s sales and marketing
programs; timely development and release of the Company’s products
and services; the Company’s ability to realize the anticipated
benefits of acquisitions; the consumer demand for, and the
availability of an adequate supply of console hardware units; the
Company’s ability to predict consumer preferences among competing
platforms; the Company’s ability to develop and implement new
technology; foreign currency exchange rate fluctuations; general
economic conditions; changes in our tax rates or tax laws; and
other factors described in Part II, Item 1A of Electronic Arts’
latest Quarterly Report on Form 10-Q under the heading “Risk
Factors”, as well as in other documents we have filed with the
Securities and Exchange Commission, including our Annual Report on
Form 10-K for the fiscal year ended March 31, 2020.
These forward-looking statements are current as of February 2,
2021. Electronic Arts assumes no obligation to revise or update any
forward-looking statement for any reason, except as required by
law. In addition, the preliminary financial results set forth in
this release are estimates based on information currently available
to Electronic Arts.
While Electronic Arts believes these estimates are meaningful,
they could differ from the actual amounts that Electronic Arts
ultimately reports in its Quarterly Report on Form 10-Q for the
fiscal quarter ended December 31, 2020. Electronic Arts assumes no
obligation and does not intend to update these estimates prior to
filing its Form 10-Q for the fiscal quarter ended December 31,
2020.
About Electronic Arts
Electronic Arts (NASDAQ: EA) is a global leader in digital
interactive entertainment. The Company develops and delivers games,
content and online services for Internet-connected consoles, mobile
devices and personal computers.
In fiscal year 2020, EA posted
GAAP net revenue of $5.5 billion. Headquartered in Redwood City,
California, EA is recognized for a portfolio of critically
acclaimed, high-quality brands such as EA SPORTS™ FIFA,
Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for
Speed™, Titanfall™ and Plants vs. Zombies™. More information about
EA is available at www.ea.com/news.
EA SPORTS, Medal of Honor, Ultimate Team, Battlefield, Need for
Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are
trademarks of Electronic Arts Inc. John Madden, NFL, and FIFA are
the property of their respective owners and used with
permission.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Statements of Operations
(in $ millions, except per
share data)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2020
2019
2020
2019
Net revenue
1,673
1,593
4,283
4,150
Cost of revenue
601
508
1,175
1,100
Gross profit
1,072
1,085
3,108
3,050
Operating expenses:
Research and development
451
389
1,310
1,157
Marketing and sales
216
202
493
464
General and administrative
149
126
418
364
Acquisition-related contingent
consideration
—
2
—
5
Amortization of intangibles
5
5
16
16
Total operating expenses
821
724
2,237
2,006
Operating income
251
361
871
1,044
Interest and other income (expense),
net
(6
)
13
(19
)
50
Income before provision for (benefit from)
income taxes
245
374
852
1,094
Provision for (benefit from) income
taxes
34
28
91
(1,527
)
Net income
211
346
761
2,621
Earnings per share
Basic
0.73
1.18
2.63
8.91
Diluted
0.72
1.18
2.61
8.85
Number of shares used in
computation
Basic
290
292
289
294
Diluted
292
294
292
296
Results (in $ millions, except per share data)
The following table reports the variance of the actuals versus
our guidance provided on November 5, 2020 for the three months
ended December 31, 2020 plus a comparison to the actuals for the
three months ended December 31, 2019.
Three Months Ended December
31,
2020
2020
2019
Guidance
Variance
Actuals
Actuals
Net revenue
Net revenue
1,675
(2
)
1,673
1,593
GAAP-based financial data
Change in deferred net revenue
(online-enabled games)1
675
52
727
428
Cost of revenue
Cost of revenue
599
2
601
508
GAAP-based financial data
Acquisition-related expenses
—
—
—
(5
)
Stock-based compensation
—
(1
)
(1
)
(1
)
Operating expenses
Operating expenses
840
(19
)
821
724
GAAP-based financial data
Acquisition-related expenses
(5
)
—
(5
)
(7
)
Stock-based compensation
(115
)
5
(110
)
(90
)
Income before tax
Income before tax
227
18
245
374
GAAP-based financial data
Acquisition-related expenses
5
—
5
12
Change in deferred net revenue
(online-enabled games)1
675
52
727
428
Stock-based compensation
115
(4
)
111
91
Tax rate used for management reporting
18
%
18
%
18
%
Earnings per share
Basic
0.62
0.11
0.73
1.18
Diluted
0.61
0.11
0.72
1.18
Number of shares
Basic
290
—
290
292
Diluted
294
(2
)
292
294
1The change in deferred net revenue (online-enabled games) in
the unaudited condensed consolidated statements of cash flows does
not necessarily equal the change in deferred net revenue
(online-enabled games) in the unaudited condensed consolidated
statements of operations primarily due to the impact of
unrecognized gains/losses on cash flow hedges.
In fiscal 2021, EA changed the way in which it presents net
revenue. Periods prior to the first quarter of fiscal 2021 have
been recast for comparability to align with these changes. For more
information please see the Financial Reporting FAQ on our Investor
Relations Website.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Balance Sheets
(in $ millions)
December 31, 2020
March 31, 20202
ASSETS
Current assets:
Cash and cash equivalents
4,772
3,768
Short-term investments
1,938
1,967
Receivables, net
778
461
Other current assets
233
321
Total current assets
7,721
6,517
Property and equipment, net
467
449
Goodwill
1,896
1,885
Acquisition-related intangibles, net
37
53
Deferred income taxes, net
1,924
1,903
Other assets
375
305
TOTAL ASSETS
12,420
11,112
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable
89
68
Accrued and other current liabilities
1,423
1,052
Deferred net revenue (online-enabled
games)
1,380
945
Senior notes, current, net
600
599
Total current liabilities
3,492
2,664
Senior notes, net
397
397
Income tax obligations
296
373
Deferred income taxes, net
1
1
Other liabilities
271
216
Total liabilities
4,457
3,651
Stockholders’ equity:
Common stock
3
3
Retained earnings
8,054
7,508
Accumulated other comprehensive loss
(94
)
(50
)
Total stockholders’ equity
7,963
7,461
TOTAL LIABILITIES AND STOCKHOLDERS’
EQUITY
12,420
11,112
2Derived from audited consolidated financial statements.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Statements of Cash Flows
(in $ millions)
Three Months Ended December
31,
Nine Months Ended December
31,
2020
2019
2020
2019
OPERATING ACTIVITIES
Net income
211
346
761
2,621
Adjustments to reconcile net
income to net cash provided by operating activities:
Depreciation, amortization and
accretion
46
39
123
111
Stock-based compensation
111
91
326
256
Change in assets and
liabilities
Receivables, net
(348
)
59
(309
)
(176
)
Other assets
85
43
(28
)
76
Accounts payable
(77
)
(84
)
29
(33
)
Accrued and other liabilities
341
176
245
264
Deferred income taxes, net
14
7
(18
)
(1,793
)
Deferred net revenue
(online-enabled games)
741
427
434
(27
)
Net cash provided by operating
activities
1,124
1,104
1,563
1,299
INVESTING ACTIVITIES
Capital expenditures
(30
)
(28
)
(93
)
(100
)
Proceeds from maturities and
sales of short-term investments
670
582
2,088
1,375
Purchase of short-term
investments
(640
)
(637
)
(2,056
)
(2,621
)
Net cash used in investing
activities
—
(83
)
(61
)
(1,346
)
FINANCING ACTIVITIES
Proceeds from issuance of common
stock
13
1
56
34
Cash dividends paid
(49
)
—
(49
)
—
Cash paid to taxing authorities
for shares withheld from employees
(67
)
(31
)
(144
)
(86
)
Repurchase and retirement of
common stock
(326
)
(305
)
(404
)
(916
)
Payment of contingent
consideration
—
(26
)
—
(90
)
Net cash used in financing
activities
(429
)
(361
)
(541
)
(1,058
)
Effect of foreign exchange on cash and
cash equivalents
18
3
43
—
Change in cash and cash
equivalents
713
663
1,004
(1,105
)
Beginning cash and cash equivalents
4,059
2,940
3,768
4,708
Ending cash and cash
equivalents
4,772
3,603
4,772
3,603
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions, except per
share data)
Q3
Q4
Q1
Q2
Q3
YOY %
FY20
FY20
FY21
FY21
FY21
Change
Net revenue
Net revenue
1,593
1,387
1,459
1,151
1,673
5
%
GAAP-based financial data
Change in deferred net revenue
(online-enabled games)1
428
(131
)
(69
)
(241
)
727
Gross profit
Gross profit
1,085
1,118
1,171
865
1,072
(1
%)
Gross profit (as a % of net revenue)
68
%
81
%
80
%
75
%
64
%
GAAP-based financial data
Acquisition-related expenses
5
3
—
—
—
Change in deferred net revenue
(online-enabled games)1
428
(131
)
(69
)
(241
)
727
Stock-based compensation
1
1
1
2
1
Operating income
Operating income
361
401
471
149
251
(30
%)
Operating income (as a % of net
revenue)
23
%
29
%
32
%
13
%
15
%
GAAP-based financial data
Acquisition-related expenses
12
9
5
6
5
Change in deferred net revenue
(online-enabled games)1
428
(131
)
(69
)
(241
)
727
Stock-based compensation
91
91
102
113
111
Net income
Net income
346
418
365
185
211
(39
%)
Net income (as a % of net revenue)
22
%
30
%
25
%
16
%
13
%
GAAP-based financial data
Acquisition-related expenses
12
9
5
6
5
Change in deferred net revenue
(online-enabled games)1
428
(131
)
(69
)
(241
)
727
Stock-based compensation
91
91
102
113
111
Tax rate used for management reporting
18
%
18
%
18
%
18
%
18
%
Diluted earnings per share
1.18
1.43
1.25
0.63
0.72
(39
%)
Number of diluted shares used in
computation
Basic
292
290
288
289
290
Diluted
294
292
292
293
292
1The change in deferred net revenue (online-enabled games) in
the unaudited condensed consolidated statements of cash flows does
not necessarily equal the change in deferred net revenue
(online-enabled games) in the unaudited condensed consolidated
statements of operations primarily due to the impact of
unrecognized gains/losses on cash flow hedges.
In fiscal 2021, EA changed the way in which it presents net
revenue. Periods prior to the first quarter of fiscal 2021 have
been recast for comparability to align with these changes. For more
information please see the Financial Reporting FAQ on our Investor
Relations Website.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions)
Q3
Q4
Q1
Q2
Q3
YOY %
FY20
FY20
FY21
FY21
FY21
Change
QUARTERLY NET REVENUE
PRESENTATIONS
Net revenue by composition
Full game downloads
286
211
223
163
347
21
%
Packaged goods
403
145
136
119
375
(7
%)
Full game
689
356
359
282
722
5
%
Live services and other
904
1,031
1,100
869
951
5
%
Total net revenue
1,593
1,387
1,459
1,151
1,673
5
%
Full game
43
%
26
%
25
%
25
%
43
%
Live services and other
57
%
74
%
75
%
75
%
57
%
Total net revenue %
100
%
100
%
100
%
100
%
100
%
GAAP-based financial data
Full game downloads
31
(21
)
(5
)
(2
)
53
Packaged goods
60
(67
)
(67
)
(14
)
83
Full game
91
(88
)
(72
)
(16
)
136
Live services and other
337
(43
)
3
(225
)
591
Total change in deferred net revenue
(online-enabled games) by composition1
428
(131
)
(69
)
(241
)
727
Net revenue by platform
Console
1,163
928
932
714
1,191
2
%
PC & Other
261
274
325
249
326
25
%
Mobile
169
185
202
188
156
(8
%)
Total net revenue
1,593
1,387
1,459
1,151
1,673
5
%
GAAP-based financial data
Console
388
(143
)
(108
)
(201
)
619
PC & Other
24
7
15
(24
)
73
Mobile
16
5
24
(16
)
35
Total change in deferred net revenue
(online-enabled games) by platform1
428
(131
)
(69
)
(241
)
727
1The change in deferred net revenue (online-enabled games) in
the unaudited condensed consolidated statements of cash flows does
not necessarily equal the change in deferred net revenue
(online-enabled games) in the unaudited condensed consolidated
statements of operations primarily due to the impact of
unrecognized gains/losses on cash flow hedges.
In fiscal 2021, EA changed the way in which it presents net
revenue. Periods prior to the first quarter of fiscal 2021 have
been recast for comparability to align with these changes. For more
information please see the Financial Reporting FAQ on our Investor
Relations Website.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions)
Q3
Q4
Q1
Q2
Q3
YOY %
FY20
FY20
FY21
FY21
FY21
Change
CASH FLOW DATA
Operating cash flow
1,104
498
378
61
1,124
2
%
Operating cash flow - TTM
1,898
1,797
2,017
2,041
2,061
9
%
Capital expenditures
28
40
38
25
30
7
%
Capital expenditures - TTM
135
140
133
131
133
(1
%)
Repurchase and retirement of common
stock
305
291
78
—
326
7
%
Cash dividends paid
—
—
—
—
49
100
%
DEPRECIATION
Depreciation expense
29
31
31
32
37
28
%
BALANCE SHEET DATA
Cash and cash equivalents
3,603
3,768
4,013
4,059
4,772
Short-term investments
1,999
1,967
1,947
1,972
1,938
Cash and cash equivalents, and short-term
investments
5,602
5,735
5,960
6,031
6,710
20
%
Receivables, net
798
461
507
423
778
(3
%)
STOCK-BASED COMPENSATION
Cost of revenue
1
1
1
2
1
Research and development
60
59
66
74
74
Marketing and sales
10
10
11
12
11
General and administrative
20
21
24
25
25
Total stock-based compensation
91
91
102
113
111
Category: Company News
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210202006042/en/
Chris Evenden Vice President, Investor Relations 650-628-0255
cevenden@ea.com
John Reseburg Vice President, Global Communications 650-628-3601
jreseburg@ea.com
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