Company exceeds expectations on the strength of
EA SPORTS portfolio; Successfully launches EA SPORTS FC 24
Electronic Arts Inc. (NASDAQ: EA) today announced preliminary
financial results for its second quarter ended September 30,
2023.
“We delivered a strong Q2 and successfully launched EA SPORTS
FC, transforming one of the largest franchises in the world into a
powerful, interactive platform for the future of football fandom,”
said Andrew Wilson, CEO of EA. “Looking ahead, our incredible teams
will continue to innovate and expand across our world-class IP,
building experiences that entertain our massive online communities,
celebrate fandom, and increase connection for our growing global
player base.”
“EA SPORTS strength, driven by new releases and ongoing live
services, delivered Q2 results ahead of expectations,” said Stuart
Canfield, CFO of EA. “We remain focused on delivering for our
growing player communities and building upon the momentum across
our portfolio, while prioritizing investments that execute against
our largest opportunities to drive long term growth.”
Selected Operating Highlights and
Metrics1
- Net bookings2 for Q2 was $1.820 billion, up 4%
year-over-year (up 5% in constant currency).
- Live services and other net bookings for Q2 was
$1.129 billion, up 1% year-over-year (up 2% in constant currency).
On a trailing twelve-month basis, live services were 73% of our
business.
- EA SPORTS Madden NFL franchise outperformed Q2
expectations, delivering net bookings growth of 6%
year-over-year.
- EA SPORTS global football franchise outperformed Q2
expectations driven by the continued strength of EA SPORTS FIFA 23
and demand for the release of EA SPORTS FC 24.
- EA SPORTS FC 24, within the first four weeks of global
launch, had over 14.5 million active accounts.
Selected Financial Highlights and
Metrics
- Net revenue was $1.914 billion for the quarter.
- Net cash provided by operating activities was $112 million for
the quarter and $2.211 billion for the trailing twelve months.
- EA repurchased 2.6 million shares for $325 million during the
quarter, bringing the total for the trailing twelve months to 10.5
million shares for $1.300 billion.
Dividend
EA has declared a quarterly cash dividend of $0.19 per share of
the Company’s common stock. The dividend is payable on December 20,
2023 to shareholders of record as of the close of business on
November 29, 2023.
Quarterly Financial
Highlights
Three Months Ended
September 30,
2023
2022
(in $ millions, except per share
amounts)
Full game
621
602
Live services and other
1,293
1,302
Total net revenue
1,914
1,904
Net income
399
299
Diluted earnings per share*
1.47
1.07
Operating cash flow
112
(112)
Value of shares repurchased
325
325
Number of shares repurchased
2.6
2.6
Cash dividend paid
51
53
* Diluted earnings per share includes
$0.34 from a one-time non-cash tax benefit.
The following GAAP-based financial data3 and tax rate of 19% was
used internally by company management to adjust its GAAP results in
order to assess EA’s operating results:
Three Months Ended September
30, 2023
GAAP-Based Financial
Data
(in $ millions)
Statement of
Operations
Acquisition-related
expenses
Change in deferred net
revenue (online-enabled games)
Restructuring and related
charges
Stock-based
compensation
Total net revenue
1,914
-
(94
)
-
-
Cost of revenue
456
(15
)
-
-
(2
)
Gross profit
1,458
15
(94
)
-
2
Total operating expenses
1,081
(24
)
-
-
(153
)
Operating income
377
39
(94
)
-
155
Interest and other income (expense),
net
14
-
-
-
-
Income before provision for income
taxes
391
39
(94
)
-
155
Number of shares used in computation:
Diluted
272
Trailing Twelve Months Financial
Highlights
Twelve Months Ended September
30,
2023
2022
(in $ millions)
Full game
2,058
1,997
Live services and other
5,535
5,288
Total net revenue
7,593
7,285
Net income
993
901
Operating cash flow
2,211
1,788
Value of shares repurchased
1,300
1,295
Number of shares repurchased
10.5
10.0
The following GAAP-based financial data3 and a tax rate of 19%
was used internally by company management to adjust its GAAP
results in order to assess EA’s operating results.
Twelve Months Ended September
30, 2023
GAAP-Based Financial
Data
(in $ millions)
Statement of
Operations
Acquisition-related
expenses
Change in deferred net revenue
(online-enabled games)
Restructuring and related
charges
Stock-based
compensation
Total net revenue
7,593
-
93
-
-
Cost of revenue
1,840
(82
)
-
-
(8
)
Gross profit
5,753
82
93
-
8
Total operating expenses
4,370
(125
)
-
(158
)
(560
)
Operating income
1,383
207
93
158
568
Interest and other income (expense),
net
27
-
-
-
-
Income before provision for income
taxes
1,410
207
93
158
568
Operating Metric
The following is a calculation of our total net bookings2 for
the periods presented:
Three Months Ended
September 30,
Twelve Months Ended September
30,
2023
2022
2023
2022
(in $ millions)
Total net revenue
1,914
1,904
7,593
7,285
Change in deferred net revenue
(online-enabled games)
(94
)
(150
)
93
96
Total net bookings
1,820
1,754
7,686
7,381
Business Outlook as of November 1,
2023
Fiscal Year 2024 Expectations – Ending March 31, 2024
Financial outlook metrics:
- Net revenue is expected to be approximately $7.300 billion to
$7.700 billion.
- No change in deferred net revenue (online-enabled games) is
expected.
- Net income is expected to be approximately $1.118 billion to
$1.273 billion.
- Diluted earnings per share is expected to be approximately
$4.10 to $4.66.
- Operating cash flow is expected to be approximately $1.950
billion to $2.100 billion.
- The Company estimates a share count of 273 million for purposes
of calculating fiscal year 2024 diluted earnings per share.
Operational outlook metric:
- Net bookings2 is expected to be approximately $7.300 billion to
$7.700 billion.
In addition, the following outlook for GAAP-based financial
data3 and long-term tax rate of 19% are used internally by EA to
adjust GAAP expectations to assess EA’s operating results and plan
for future periods:
Twelve Months Ended March 31,
2024
GAAP-Based Financial
Data*
(in $ millions)
GAAP Guidance Range
Acquisition-related
expenses
Change in deferred net revenue
(online-enabled games)
Restructuring and related
charges
Stock-based
compensation
Total net revenue
7,300 to 7,700
-
-
-
-
Cost of revenue
1,670 to 1,750
(65
)
-
-
(5
)
Operating expense
4,213 to 4,333
(95
)
-
(3
)
(595
)
Income before provision for income
taxes
1,462 to 1,664
160
-
3
600
Net income
1,118 to 1,273
Number of shares used in computation:
Diluted shares
273
*The mid-point of the range has been used
for purposes of presenting the reconciling items.
Third Quarter Fiscal Year 2024 Expectations – Ending December
31, 2023
Financial outlook metrics:
- Net revenue is expected to be approximately $1.825 billion to
$2.025 billion.
- Change in deferred net revenue (online-enabled games) is
expected to be approximately $425 million.
- Net income is expected to be approximately $203 million to $275
million.
- Diluted earnings per share is expected to be approximately
$0.75 to $1.01.
- The Company estimates a share count of 272 million for purposes
of calculating third quarter fiscal 2024 diluted earnings per
share.
Operational outlook metric:
- Net bookings2 is expected to be approximately $2.250 billion to
$2.450 billion.
In addition, the following outlook for GAAP-based financial
data3 and long-term tax rate of 19% are used internally by EA to
adjust GAAP expectations to assess EA’s operating results and plan
for future periods:
Three Months Ended December
31, 2023
GAAP-Based Financial
Data*
(in $ millions)
GAAP Guidance Range
Acquisition-related
expenses
Change in deferred net revenue
(online-enabled games)
Restructuring and related
charges
Stock-based
compensation
Total net revenue
1,825 to 2,025
-
425
-
-
Cost of revenue
495 to 535
(15
)
-
-
-
Operating expense
1,050 to 1,110
(25
)
-
-
(155
)
Income before provision for income
taxes
286 to 387
40
425
-
155
Net income
203 to 275
Number of shares used in computation:
Diluted shares
272
*The mid-point of the range has been used
for purposes of presenting the reconciling items.
Conference Call and Supporting
Documents
Electronic Arts will host a conference call on November 1, 2023
at 2:00 pm PT (5:00 pm ET) to review its results for the second
quarter ended September 30, 2023 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 (888) 330-2446 (domestic) or (240)
789-2732 (international), using the conference code 5939891 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
November 15, 2023 at (800) 770-2030 (domestic) or (647) 362-9199
(international) using pin code 5939891. 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 expectations under the heading
“Business Outlook as of November 1, 2023” and other information
regarding EA's 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:
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, and integrate,
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; economic and geopolitical
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, 2023.
These forward-looking statements are current as of November 1,
2023. 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 September 30, 2023. 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 September 30,
2023.
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 2023, EA posted GAAP net revenue of approximately
$7.4 billion. Headquartered in Redwood City, California, EA is
recognized for a portfolio of critically acclaimed, high-quality
brands such as EA SPORTS FC™, Battlefield™, Apex Legends™, The
Sims™, EA SPORTS Madden NFL, Need for Speed™, Titanfall™, Plants
vs. Zombies™ and EA SPORTS F1®. More information about EA is
available at www.ea.com/news.
EA, EA SPORTS, EA SPORTS FC, Battlefield, Need for Speed, Apex
Legends, The Sims, Titanfall, and Plants vs. Zombies are trademarks
of Electronic Arts Inc. John Madden, NFL, FIFA and F1 are the
property of their respective owners and used with permission.
1 For more information on constant
currency, please refer to the earnings slides available on EA’s IR
Website.
2 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.
3 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, 2023.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Statements of Operations
(in $ millions, except per
share data)
Three Months Ended
September 30,
Six Months Ended September
30,
2023
2022
2023
2022
Net revenue
1,914
1,904
3,838
3,671
Cost of revenue
456
462
824
776
Gross profit
1,458
1,442
3,014
2,895
Operating expenses:
Research and development
602
565
1,198
1,137
Marketing and sales
280
233
509
467
General and administrative
173
174
336
341
Amortization and impairment of
intangibles
24
43
49
82
Restructuring
2
—
3
—
Total operating expenses
1,081
1,015
2,095
2,027
Operating income
377
427
919
868
Interest and other income (expense),
net
14
—
28
(5
)
Income before provision for (benefit from)
income taxes
391
427
947
863
Provision for income taxes
(8)
128
146
253
Net income
399
299
801
610
Earnings per share
Basic
1.47
1.08
2.94
2.19
Diluted
1.47
1.07
2.93
2.18
Number of shares used in
computation
Basic
271
278
272
279
Diluted
272
279
273
280
Results (in $ millions, except per share data)
The following table reports the variance of the actuals versus
our guidance provided on August 1, 2023 for the three months ended
September 30, 2023 plus a comparison to the actuals for the three
months ended September 30, 2022.
Three Months Ended September
30,
2023 Guidance
(Mid-Point)
2023 Actuals
2022 Actuals
Variance
Net revenue
Net revenue
1,875
39
1,914
1,904
GAAP-based financial data
Change in deferred net revenue
(online-enabled games)1
(125
)
31
(94
)
(150
)
Cost of revenue
Cost of revenue
440
16
456
462
GAAP-based financial data
Acquisition-related expenses
(15
)
—
(15
)
(39
)
Stock-based compensation
—
(2
)
(2
)
(1
)
Operating expenses
Operating expenses
1,115
(34
)
1,081
1,015
GAAP-based financial data
Acquisition-related expenses
(25
)
1
(24
)
(43
)
Restructuring and related charges
(10
)
10
—
—
Stock-based compensation
(155
)
2
(153
)
(139
)
Income before tax
Income before tax
324
67
391
427
GAAP-based financial data
Acquisition-related expenses
40
(1
)
39
82
Change in deferred net revenue
(online-enabled games)1
(125
)
31
(94
)
(150
)
Restructuring and related charges
10
(10
)
—
—
Stock-based compensation
155
—
155
140
Tax rate used for management reporting
19
%
19
%
19
%
Earnings per share
Basic
0.81
0.66
1.47
1.08
Diluted
0.81
0.66
1.47
1.07
Number of shares used in
computation
Basic
272
(1
)
271
278
Diluted
273
(1
)
272
279
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.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Balance Sheets
(in $ millions)
September 30, 2023
March 31, 20232
ASSETS
Current assets:
Cash and cash equivalents
1,946
2,424
Short-term investments
359
343
Receivables, net
1,047
684
Other current assets
492
518
Total current assets
3,844
3,969
Property and equipment, net
542
549
Goodwill
5,378
5,380
Acquisition-related intangibles, net
538
618
Deferred income taxes, net
2,353
2,462
Other assets
484
481
TOTAL ASSETS
13,139
13,459
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable
152
99
Accrued and other current liabilities
1,138
1,285
Deferred net revenue (online-enabled
games)
1,498
1,901
Total current liabilities
2,788
3,285
Senior notes, net
1,881
1,880
Income tax obligations
458
607
Deferred income taxes, net
1
1
Other liabilities
436
393
Total liabilities
5,564
6,166
Stockholders’ equity:
Common stock
3
3
Retained earnings
7,606
7,357
Accumulated other comprehensive loss
(34
)
(67
)
Total stockholders’ equity
7,575
7,293
TOTAL LIABILITIES AND STOCKHOLDERS’
EQUITY
13,139
13,459
2Derived from audited consolidated
financial statements.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Statements of Cash Flows
(in $ millions)
Three Months Ended
September 30,
Six Months Ended
September 30,
2023
2022
2023
2022
OPERATING ACTIVITIES
Net income
399
299
801
610
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Depreciation, amortization, accretion and
impairment
85
127
173
241
Stock-based compensation
155
140
285
265
Change in assets and liabilities
Receivables, net
(534
)
(346
)
(367
)
(276
)
Other assets
(22
)
(10
)
74
(25
)
Accounts payable
75
69
57
53
Accrued and other liabilities
(165
)
(164
)
(257
)
(269
)
Deferred income taxes, net
201
(70
)
108
(156
)
Deferred net revenue (online-enabled
games)
(82
)
(157
)
(403
)
(633
)
Net cash provided by (used in)
operating activities
112
(112
)
471
(190
)
INVESTING ACTIVITIES
Capital expenditures
(51
)
(53
)
(96
)
(112
)
Proceeds from maturities and sales of
short-term investments
151
79
302
166
Purchase of short-term investments
(163
)
(80
)
(313
)
(173
)
Net cash used in investing
activities
(63
)
(54
)
(107
)
(119
)
FINANCING ACTIVITIES
Proceeds from issuance of common stock
40
43
40
44
Cash dividends paid
(51
)
(53
)
(103
)
(106
)
Cash paid to taxing authorities for shares
withheld from employees
(15
)
(13
)
(120
)
(117
)
Repurchase and retirement of common
stock
(325
)
(325
)
(650
)
(645
)
Net cash used in financing
activities
(351
)
(348
)
(833
)
(824
)
Effect of foreign exchange on cash and
cash equivalents
(11
)
(29
)
(9
)
(60
)
Change in cash and cash
equivalents
(313
)
(543
)
(478
)
(1,193
)
Beginning cash and cash equivalents
2,259
2,082
2,424
2,732
Ending cash and cash
equivalents
1,946
1,539
1,946
1,539
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions, except per
share data)
Q2
Q3
Q4
Q1
Q2
YOY %
FY23
FY23
FY23
FY24
FY24
Change
Net revenue
Net revenue
1,904
1,881
1,874
1,924
1,914
1
%
GAAP-based financial data
Change in deferred net revenue
(online-enabled games)1
(150
)
461
72
(346
)
(94
)
Gross profit
Gross profit
1,442
1,313
1,426
1,556
1,458
1
%
Gross profit (as a % of net revenue)
76
%
70
%
76
%
81
%
76
%
GAAP-based financial data
Acquisition-related expenses
39
26
25
16
15
Change in deferred net revenue
(online-enabled games)1
(150
)
461
72
(346
)
(94
)
Stock-based compensation
1
2
2
2
2
Operating income
Operating income
427
289
175
542
377
(12
%)
Operating income (as a % of net
revenue)
22
%
15
%
9
%
28
%
20
%
GAAP-based financial data
Acquisition-related expenses
82
76
51
41
39
Change in deferred net revenue
(online-enabled games)1
(150
)
461
72
(346
)
(94
)
Restructuring and related charges
—
—
155
3
—
Stock-based compensation
140
141
142
130
155
Net income (loss)
Net income (loss)
299
204
(12
)
402
399
33
%
Net income (loss) (as a % of net
revenue)
16
%
11
%
(1
%)
21
%
21
%
GAAP-based financial data
Acquisition-related expenses
82
76
51
41
39
Change in deferred net revenue
(online-enabled games)1
(150
)
461
72
(346
)
(94
)
Restructuring and related charges
—
—
155
3
—
Stock-based compensation
140
141
142
130
155
Tax rate used for management reporting
19
%
19
%
19
%
19
%
19
%
Diluted earnings (loss) per
share
1.07
0.73
(0.04
)
1.47
1.47
37
%
Number of shares used in
computation
Basic
278
276
274
272
271
Diluted
279
278
274
274
272
Anti-dilutive shares excluded for loss
position3
—
—
1
—
—
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.
3 Diluted earnings per share reflects the
potential dilution from common shares (calculated using the
treasury stock method), issuable through stock-based compensation
plans. When the company incurs a loss, shares issuable though
stock-based compensation plans are excluded from the diluted loss
per share calculation as inclusion would be anti-dilutive.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions)
Q2
Q3
Q4
Q1
Q2
YOY %
FY23
FY23
FY23
FY24
FY24
Change
QUARTERLY NET REVENUE
PRESENTATIONS
Net revenue by composition
Full game downloads
328
423
274
301
346
5
%
Packaged goods
274
199
98
142
275
—
Full game
602
622
372
443
621
3
%
Live services and other
1,302
1,259
1,502
1,481
1,293
(1
%)
Total net revenue
1,904
1,881
1,874
1,924
1,914
1
%
Full game
32
%
33
%
20
%
23
%
32
%
Live services and other
68
%
67
%
80
%
77
%
68
%
Total net revenue %
100
%
100
%
100
%
100
%
100
%
GAAP-based financial data
Full game downloads
17
45
(24
)
(21
)
24
Packaged goods
16
20
(24
)
(21
)
46
Full game
33
65
(48
)
(42
)
70
Live services and other
(183
)
396
120
(304
)
(164
)
Total change in deferred net revenue
(online-enabled games) by composition1
(150
)
461
72
(346
)
(94
)
Net revenue by platform
Console
1,161
1,152
1,088
1,167
1,187
2
%
PC & Other
423
435
469
451
423
—
Mobile
320
294
317
306
304
(5
%)
Total net revenue
1,904
1,881
1,874
1,924
1,914
1
%
GAAP-based financial data
Console
(134
)
423
11
(266
)
(35
)
PC & Other
8
29
47
(77
)
(34
)
Mobile
(24
)
9
14
(3
)
(25
)
Total change in deferred net revenue
(online-enabled games) by platform1
(150
)
461
72
(346
)
(94
)
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.
ELECTRONIC ARTS INC. AND
SUBSIDIARIES
Unaudited Supplemental
Financial Information and Business Metrics
(in $ millions)
Q2
Q3
Q4
Q1
Q2
YOY %
FY23
FY23
FY23
FY24
FY24
Change
CASH FLOW DATA
Operating cash flow
(112
)
1,123
617
359
112
200
%
Operating cash flow - TTM
1,788
1,377
1,550
1,987
2,211
24
%
Capital expenditures
53
48
47
45
51
(4
%)
Capital expenditures - TTM
213
213
207
193
191
(10
%)
Repurchase and retirement of common
stock
325
325
325
325
325
—
Cash dividends paid
53
52
52
52
51
(4
%)
DEPRECIATION
Depreciation expense
45
46
58
49
49
9
%
BALANCE SHEET DATA
Cash and cash equivalents
1,539
2,202
2,424
2,259
1,946
Short-term investments
335
351
343
343
359
Cash and cash equivalents, and short-term
investments
1,874
2,553
2,767
2,602
2,305
23
%
Receivables, net
919
836
684
517
1,047
14
%
STOCK-BASED COMPENSATION
Cost of revenue
1
2
2
2
2
Research and development
95
95
96
93
113
Marketing and sales
16
15
15
11
13
General and administrative
28
29
29
24
27
Total stock-based compensation
140
141
142
130
155
RESTRUCTURING AND RELATED
CHARGES
Restructuring
—
—
111
1
2
Office space reductions
—
—
44
2
(2
)
Total restructuring and related
charges
—
—
155
3
—
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231101877865/en/
Katie Burke Director, Investor Relations 650-628-7605
katieburke@ea.com Erin Rheaume Director, Financial Communications
650-628-7978 erheaume@ea.com
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