Electronic Arts Inc. (EA) CEO Andrew Wilson on Q1 2021 Results - Earnings Call Transcript

Jul. 30, 2020 11:18 PM ETElectronic Arts Inc. (EA)
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Electronic Arts Inc. (NASDAQ:EA) Q1 2021 Earnings Conference Call July 30, 2020 5:00 PM ET

Company Participants

Andrew Wilson - CEO

Blake Jorgensen - COO

Conference Call Participants

Mario Lu - Barclays

Todd Juenger - Sanford C. Bernstein

Ryan Gee - Bank of America

Michael Ng - Goldman Sachs Group


… Abrupt start…

…in addition to the ongoing challenges of the pandemic, these last few months have brought forward important cultural conversations around racial and social injustice, harassment and misconduct. We’ve long held equality, inclusion and diversity at the center of our beliefs at Electronic Arts, and as a company, we’ve made our positions clear and demonstrated with our actions that we have a long-term commitment to making a positive impact in our world.

As we’ve shared previously, our business focus continues to be on our key growth drivers: delivering amazing games and content, offering live services that extend and enhance the experience, and connecting more layers across more platforms and ways to play. In our first quarter of FY21, engagement was exceptionally strong across our portfolio. We launched new games, delivered incredible growth in our live services, and welcomed tens of millions of new players into the EA network since the beginning of April. This drove the biggest first quarter in EA history, with net bookings and operating cash flow both setting new records. As a result, we are raising our full-year FY21 net revenue and net bookings guidance today.

We’ve seen tremendous growth over the last four months in our business and across the industry. As EA, we sit at the intersection of two fundamental secular trends that have become increasingly clear. First, social interactions in our world are moving from physical to digital, and second, the consumption of sports and entertainment is moving from linear to interactive.

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