Electronic Arts (EA) first quarter 2023 results beat EPS and revenue expectations

Electronic Arts found success again with strong seasons for Apex Legends, FIFA, and more.

This week, in the results of the technology and video game industry, it is the turn of Electronic Arts to report on its last financial quarter. EA’s Q1 2023 results were recently released and there was a lot of good news for the company to share. Electronic Arts was able to post positive results in terms of revenue and earnings per share (EPS) compared to overall expectations. The company is in great shape as it exits the first stage of its 2023 fiscal year.

Electronic Arts has published its results for the first quarter of 2023 on its investor relations site on August 2, 2022. The most significant points were its success in overcoming revenue and EPS expectations. The company posted revenue of $1.77 billion against an expectation of $1.3 billion. Its EPS also beat expectations, ending at a total of $0.47 per share. This was against a Wall Street expectation of around $0.28 per share, meaning EA beat all expectations easily.

A look at the Electronic Arts stock chart after the market close on August 2, courtesy of Google
The value of Electronic Arts (EA) shares fell after the first quarter 2023 results, but quickly recovered to exceed market closing values.
Source: Google

It should come as no surprise what guided Electronic Arts to another successful quarter. Apex Legends not only launched on mobile devices but also featured one of its most played seasons yet in Season 12 of the main game. Apex Legends has been into Season 13 and is gearing up to launch Season 14 shortly, but we see how it’s doing in Electronic Arts Q2 2023 earnings results.

That was not all, however. Despite breaking off partnerships with the FIFA organization to run its own brand on football games, EA Sports FIFA was still a hugely popular brand for the company, amassing over 150 million accounts on its latest FIFA products.

Between the upcoming Apex Legends Season 14, a new EA Sports Madden NFL 23, and what’s to come for EA Sports FC, the next few quarters should be interesting for Electronic Arts. Stay tuned for more tech and gaming industry revenue reports here at Shacknews.

News editor-in-chief

TJ Denzer is a gamer and writer with a lifelong passion for games. He found his way to Shacknews’ roster in late 2019 and has been working his way to Senior News Editor ever since. In between news coverage, he also helps out with livestreaming projects like Indie-licious focused on indie gaming, Shacknews Stimulus Games and Shacknews Dump. You can reach him at [email protected] and also find him on Twitter @JohnnyChugs.