PM: Electronic Arts Reports Strong Q1 FY21 Financial Results (Electronic Arts)

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30. Juli 2020 - 22:15 — vor 1 Woche zuletzt aktualisiert

HINWEIS: DIES IST EINE PRESSEMITTEILUNG, KEINE REDAKTIONELLE NEWS

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its first fiscal quarter ended June 30, 2020.

“This was an extraordinary quarter, and we’re deeply proud of everything our teams at Electronic Arts are doing for our players and communities,” said CEO Andrew Wilson. “We launched new games, deeply engaged players in our live services, and welcomed tens of millions of new players to our network. It was an unprecedented first quarter of growth in our business, and we will continue building on that strength with more innovative experiences, more groundbreaking content, and more ways to connect with friends and play great games throughout the year.”

“Player engagement through the first quarter was exceptionally high, and well above our forecast,” said COO and CFO Blake Jorgensen. “Our Stay Home, Play Together initiatives have been a strong tailwind for the business, as players look for safe and social entertainment in these difficult times. We are focused on delivering high quality titles for our players, combined with our incredible ongoing live services and increasing reach across platforms and geographies which should continue to expand our business over time.”

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 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

Quarterly Financial Highlights

2020

2019

359

262

1,100

947

1,459

1,209

365

1.25

378

158

78

305

0.7

3.2

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:

1,459

 

-

 

(69

)

-

 

288

 

-

 

-

 

(1

)

1,171

 

-

 

(69

)

1

 

700

 

(5

)

-

 

(101

)

471

 

5

 

(69

)

102

 

(3

)

-

 

-

 

-

 

468

 

5

 

(69

)

102

 

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

June 30,

2020

2019

1,984

1,784

3,803

3,238

5,787

5,022

2,017

1,585

980

1,197

9.8

11.9

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:

5,787

-

 

193

-

 

1,470

(10

)

-

(4

)

4,317

10

 

193

4

 

2,816

(26

)

-

(372

)

1,501

36

 

193

376

 

39

-

 

-

-

 

1,540

36

 

193

376

 

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

June 30,

June 30,

2020

2019*

2020*

2019*

1,459

 

1,209

 

5,787

 

5,022

 

(69

)

(427

)

193

94

1,390

 

782

 

5,980

 

5,116

 

Business Outlook as of July 30, 2020

The following forward-looking statements reflect expectations as of July 30, 2020. 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:

Operational metric:

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:

5,625

-

 

325

-

 

1,483

-

 

-

(1

)

3,024

(20

)

-

(444

)

1,086

20

 

325

445

 

869

293

Second Quarter Fiscal Year 2021 Expectations – Ending September 30, 2020

Financial metrics:

Operational metric:

As previously announced, Madden NFL 21 will launch on August 28, 2020 and FIFA 21 will launch on October 9, 2020, moving FIFA 21 out of the second fiscal quarter and into the beginning of the third fiscal quarter. These launch dates affect the original estimated phasing of net revenue and net bookings as well as the year-over-year quarterly comparison. Refer to the slide presentation on EA’s IR website for additional details.

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:

1,125

-

 

(250

)

-

 

280

-

 

-

 

-

 

755

(5

)

-

 

(110

)

83

5

 

(250

)

110

 

61

293

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 July 30, 2020 at 2:00 pm PT (5:00 pm ET) to review its results for the first fiscal quarter ended June 30, 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 5955287 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 August 13, 2020 at 855-859-2056 (domestic) or 404-537-3406 (international) using pin code 5955287. 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 July 30, 2020,” and other information regarding EA's fiscal 2021 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 I, Item 1A of Electronic Arts’ latest Annual Report on Form 10-K under the heading “Risk Factors”, as well as in other documents we have filed with the Securities and Exchange Commission.

These forward-looking statements are current as of July 30, 2020. 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 June 30, 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 June 30, 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, Command & Conquer, Burnout Paradise, Battlefield, Need for Speed, Apex Legends, The Sims 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

 

June 30,

 

2020

 

2019

Net revenue

1,459

 

 

1,209

 

Cost of revenue

288

 

 

187

 

Gross profit

1,171

 

 

1,022

 

Operating expenses:

 

 

 

Research and development

438

 

 

381

 

Marketing and sales

121

 

 

110

 

General and administrative

136

 

 

110

 

Acquisition-related contingent consideration

 

 

1

 

Amortization of intangibles

5

 

 

5

 

Total operating expenses

700

 

 

607

 

Operating income

471

 

 

415

 

Interest and other income (expense), net

(3

)

 

21

 

Income before provision for (benefit from) income taxes

468

 

 

436

 

Provision for (benefit from) income taxes

103

 

 

(985

)

Net income

365

 

 

1,421

 

Earnings per share

 

 

 

Basic

1.27

 

 

4.78

 

Diluted

1.25

 

 

4.75

 

Number of shares used in computation

 

 

 

Basic

288

 

 

297

 

Diluted

292

 

 

299

 

Results (in $ millions, except per share data)

The following table reports the variance of the actuals versus our guidance provided on May 5, 2020 for the three months ended June 30, 2020 plus a comparison to the actuals for the three months ended June 30, 2019.

 

Three Months Ended June 30,

 

2020

 

 

 

2020

 

2019

 

Guidance

 

Variance

 

Actuals

 

Actuals

Net revenue

 

 

 

 

 

 

 

Net revenue

1,220

 

 

239

 

 

1,459

 

 

1,209

 

GAAP-based financial data

 

 

 

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(220

)

 

151

 

 

(69

)

 

(427

)

Cost of revenue

 

 

 

 

 

 

 

Cost of revenue

210

 

 

78

 

 

288

 

 

187

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

 

 

 

 

 

 

(2

)

Stock-based compensation

 

 

(1

)

 

(1

)

 

(1

)

Operating expenses

 

 

 

 

 

 

 

Operating expenses

635

 

 

65

 

 

700

 

 

607

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

(5

)

 

 

 

(5

)

 

(6

)

Stock-based compensation

(90

)

 

(11

)

 

(101

)

 

(72

)

Income before tax

 

 

 

 

 

 

 

Income before tax

374

 

 

94

 

 

468

 

 

436

 

GAAP-based financial data

 

 

 

 

 

 

 

Acquisition-related expenses

5

 

 

 

 

5

 

 

8

 

Change in deferred net revenue (online-enabled games)1

(220

)

 

151

 

 

(69

)

 

(427

)

Stock-based compensation

90

 

 

12

 

 

102

 

 

73

 

Tax rate used for management reporting

18

%

 

 

 

18

%

 

18

%

Earnings per share

 

 

 

 

 

 

 

Basic

0.93

 

 

0.34

 

 

1.27

 

 

4.78

 

Diluted

0.93

 

 

0.32

 

 

1.25

 

 

4.75

 

Number of shares

 

 

 

 

 

 

 

Basic

289

 

 

(1

)

 

288

 

 

297

 

Diluted

291

 

 

1

 

 

292

 

 

299

 

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 reports 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)

 

 

 

 

 

June 30, 2020

 

March 31, 20202

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

4,013

 

 

3,768

 

Short-term investments

1,947

 

 

1,967

 

Receivables, net

507

 

 

461

 

Other current assets

223

 

 

321

 

Total current assets

6,690

 

 

6,517

 

Property and equipment, net

450

 

 

449

 

Goodwill

1,889

 

 

1,885

 

Acquisition-related intangibles, net

48

 

 

53

 

Deferred income taxes, net

1,894

 

 

1,903

 

Other assets

313

 

 

305

 

TOTAL ASSETS

11,284

 

 

11,112

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable

51

 

 

68

 

Accrued and other current liabilities

1,040

 

 

1,052

 

Deferred net revenue (online-enabled games)

878

 

 

945

 

Senior notes, current, net

599

 

 

599

 

Total current liabilities

2,568

 

 

2,664

 

Senior notes, net

397

 

 

397

 

Income tax obligations

312

 

 

373

 

Deferred income taxes, net

1

 

 

1

 

Other liabilities

224

 

 

216

 

Total liabilities

3,502

 

 

3,651

 

 

 

 

 

Stockholders’ equity:

 

 

 

Common stock

3

 

 

3

 

Retained earnings

7,831

 

 

7,508

 

Accumulated other comprehensive loss

(52

)

 

(50

)

Total stockholders’ equity

7,782

 

 

7,461

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

11,284

 

 

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 June 30,

 

2020

 

2019

OPERATING ACTIVITIES

 

 

 

Net income

365

 

 

1,421

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation, amortization and accretion

37

 

 

37

 

Stock-based compensation

102

 

 

73

 

Change in assets and liabilities

 

 

 

Receivables, net

(44

)

 

294

 

Other assets

44

 

 

24

 

Accounts payable

(3

)

 

(40

)

Accrued and other liabilities

(66

)

 

(56

)

Deferred income taxes, net

10

 

 

(1,174

)

Deferred net revenue (online-enabled games)

(67

)

 

(421

)

Net cash provided by operating activities

378

 

 

158

 

INVESTING ACTIVITIES

 

 

 

Capital expenditures

(38

)

 

(45

)

Proceeds from maturities and sales of short-term investments

694

 

 

358

 

Purchase of short-term investments

(664

)

 

(1,263

)

Net cash used in investing activities

(8

)

 

(950

)

FINANCING ACTIVITIES

 

 

 

Proceeds from issuance of common stock

3

 

 

3

 

Cash paid to taxing authorities for shares withheld from employees

(69

)

 

(51

)

Repurchase and retirement of common stock

(78

)

 

(305

)

Payment of contingent consideration

 

 

(32

)

Net cash used in financing activities

(144

)

 

(385

)

Effect of foreign exchange on cash and cash equivalents

19

 

 

2

 

Change in cash and cash equivalents

245

 

 

(1,175

)

Beginning cash and cash equivalents

3,768

 

 

4,708

 

Ending cash and cash equivalents

4,013

 

 

3,533

 

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

YOY %

 

FY20

 

FY20

 

FY20

 

FY20

 

FY21

 

Change

Net revenue

 

 

 

 

 

 

 

 

 

 

 

Net revenue

1,209

 

 

1,348

 

 

1,593

 

 

1,387

 

 

1,459

 

 

21

%

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

Gross profit

1,022

 

 

943

 

 

1,085

 

 

1,118

 

 

1,171

 

 

15

%

Gross profit (as a % of net revenue)

85

%

 

70

%

 

68

%

 

81

%

 

80

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

2

 

 

2

 

 

5

 

 

3

 

 

 

 

 

Change in deferred net revenue (online-enabled games)1

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

Stock-based compensation

1

 

 

1

 

 

1

 

 

1

 

 

1

 

 

 

Operating income

 

 

 

 

 

 

 

 

 

 

 

Operating income

415

 

 

268

 

 

361

 

 

401

 

 

471

 

 

13

%

Operating income (as a % of net revenue)

34

%

 

20

%

 

23

%

 

29

%

 

32

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

8

 

 

10

 

 

12

 

 

9

 

 

5

 

 

 

Change in deferred net revenue (online-enabled games)1

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

Stock-based compensation

73

 

 

92

 

 

91

 

 

91

 

 

102

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

Net income

1,421

 

 

854

 

 

346

 

 

418

 

 

365

 

 

(74

%)

Net income (as a % of net revenue)

118

%

 

63

%

 

22

%

 

30

%

 

25

%

 

 

GAAP-based financial data

 

 

 

 

 

 

 

 

 

 

 

Acquisition-related expenses

8

 

 

10

 

 

12

 

 

9

 

 

5

 

 

 

Change in deferred net revenue (online-enabled games)1

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

Stock-based compensation

73

 

 

92

 

 

91

 

 

91

 

 

102

 

 

 

Tax rate used for management reporting

18

%

 

18

%

 

18

%

 

18

%

 

18

%

 

 

Diluted earnings per share

4.75

 

 

2.89

 

 

1.18

 

 

1.43

 

 

1.25

 

 

(74

%)

Number of diluted shares used in computation

 

 

 

 

 

 

 

 

 

 

 

Basic

297

 

 

295

 

 

292

 

 

290

 

 

288

 

 

 

Diluted

299

 

 

296

 

 

294

 

 

292

 

 

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 reports 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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

YOY %

 

 

FY20

 

FY20

 

FY20

 

FY20

 

FY21

 

Change

QUARTERLY NET REVENUE PRESENTATIONS

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue by composition

 

 

 

 

 

 

 

 

 

 

 

 

Full game downloads

 

133

 

 

181

 

 

286

 

 

211

 

 

223

 

 

68

%

Packaged goods

 

129

 

 

399

 

 

403

 

 

145

 

 

136

 

 

5

%

Full game

 

262

 

 

580

 

 

689

 

 

356

 

 

359

 

 

37

%

Live services and other

 

947

 

 

768

 

 

904

 

 

1,031

 

 

1,100

 

 

16

%

Total net revenue

 

1,209

 

 

1,348

 

 

1,593

 

 

1,387

 

 

1,459

 

 

21

%

Full game

 

22

%

 

43

%

 

43

%

 

26

%

 

25

%

 

 

Live services and other

 

78

%

 

57

%

 

57

%

 

74

%

 

75

%

 

 

Total net revenue %

 

100

%

 

100

%

 

100

%

 

100

%

 

100

%

 

 

GAAP-based financial data

 

 

 

 

 

 

Full game downloads

 

(57

)

 

(5

)

 

31

 

 

(21

)

 

(5

)

 

 

Packaged goods

 

(110

)

 

62

 

 

60

 

 

(67

)

 

(67

)

 

 

Full game

 

(167

)

 

57

 

 

91

 

 

(88

)

 

(72

)

 

 

Live services and other

 

(260

)

 

(92

)

 

337

 

 

(43

)

 

3

 

 

 

Total change in deferred net revenue (online-enabled games) by composition1

 

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenue by platform

 

 

 

 

 

 

 

 

 

 

 

 

Console

 

760

 

 

923

 

 

1,163

 

 

928

 

 

932

 

 

23

%

PC & Other

 

253

 

 

248

 

 

261

 

 

274

 

 

325

 

 

28

%

Mobile

 

196

 

 

177

 

 

169

 

 

185

 

 

202

 

 

3

%

Total net revenue

 

1,209

 

 

1,348

 

 

1,593

 

 

1,387

 

 

1,459

 

 

21

%

GAAP-based financial data

 

 

 

 

 

 

Console

 

(344

)

 

8

 

 

388

 

 

(143

)

 

(108

)

 

 

PC & Other

 

(58

)

 

(32

)

 

24

 

 

7

 

 

15

 

 

 

Mobile

 

(25

)

 

(11

)

 

16

 

 

5

 

 

24

 

 

 

Total change in deferred net revenue (online-enabled games) by platform1

 

(427

)

 

(35

)

 

428

 

 

(131

)

 

(69

)

 

 

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 reports 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)

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

YOY %

 

FY20

 

FY20

 

FY20

 

FY20

 

FY21

 

Change

CASH FLOW DATA

 

 

 

 

 

 

 

 

 

 

 

Operating cash flow

158

 

37

 

1,104

 

498

 

378

 

139

%

Operating cash flow - TTM

1,585

 

1,748

 

1,898

 

1,797

 

2,017

 

27

%

Capital expenditures

45

 

27

 

28

 

40

 

38

 

(16

%)

Capital expenditures - TTM

132

 

128

 

135

 

140

 

133

 

1

%

Repurchase and retirement of common stock

305

 

306

 

305

 

291

 

78

 

(74

%)

DEPRECIATION

 

 

 

 

 

 

 

 

 

 

 

Depreciation expense

30

 

30

 

29

 

31

 

31

 

3

%

BALANCE SHEET DATA

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

3,533

 

2,940

 

3,603

 

3,768

 

4,013

 

 

Short-term investments

1,654

 

1,943

 

1,999

 

1,967

 

1,947

 

 

Cash and cash equivalents, and short-term investments

5,187

 

4,883

 

5,602

 

5,735

 

5,960

 

15

%

Receivables, net

329

 

856

 

798

 

461

 

507

 

54

%

STOCK-BASED COMPENSATION

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

1

 

1

 

1

 

1

 

1

 

 

Research and development

49

 

61

 

60

 

59

 

66

 

 

Marketing and sales

7

 

10

 

10

 

10

 

11

 

 

General and administrative

16

 

20

 

20

 

21

 

24

 

 

Total stock-based compensation

73

 

92

 

91

 

91

 

102

 

 

 

For additional information, please contact:

Chris Evenden
Vice President, Investor Relations
650-628-0255
cevenden@ea.com

John Reseburg
Vice President, Corporate Communications
650-628-3601
jreseburg@ea.com