Andrew. Thanks,
me that We’ve is for a we year. those currently I close had hope impossible through are the acknowledging healthy without strong XX But past you safe. and difficult reflect on are very and months time, and going a you that all to it to
focus on we’re seeing impact business. the I’d on like to our
a meeting in given have we the we taken we the at measures to challenges First we safety and delivering Andrew concerned example home. June and Apex EA. have a of & all launch X and has to to haven’t event; shown we Conquer Ultimate solved from expansion change extraordinary and launch; Company you to innovation period Teams for Developing the as see home to people. Remastered a are but, game the our Sims the birthday scheduled. had risks, continue Learning Command very introduction Team inevitably FIFA the across will forever is the for next successful wellbeing just and from foremost, about way take. Legends of from games problems, brief work carries and Season yet in expect both this we
rise seen might behave. how people we’ve today. you’ve games a Secondly, are a live to Andrew, corresponding our heard a affect as that playing more, question this lot From large players services and revenues continues there how in that is
of Our live meet player ways. like results services give needs a and live times we’ve services the the breadth at of value prove us this, in variety of for depth a on tremendous path The now to quarter our been this decade. flexibility
The physical time or the this closure copy online. be that not downloading we copy in actually to This a want of has sales would where a full of with expect are a games, suggests physical year. finding yet our digital of people above who sales ordering them affected title retail game a and at catalog,
risk. store closures addition, in digital reduces the only of annual of recession inventory the shift XX% year. Physical last of compared net the to XX% and our to game both XXXX, sales comprised last In since fiscal impact bookings
basis, non-GAAP to compare then relevant downloadable please operational Turning to tabs to financial our measures GAAP To historically-reported in the our results. on of the dynamics. net I’ll report model. a discuss use refer measures, results business to our bookings them
to $X.XX revenue benefit of delivering GAAP was $X.XX net we income year $X.XX of the an cost deliver for that $XX.XX, revenue previously of operating was us billion. EPS billion, flow cash fiscal of one-time These $X.XX enabled including free $X.XX discussed. net billion, results billion, tax
Live Total driven have business. net net currency, year-on-year. over X.X% X%. were billion, accounted of this. net bookings $X.XX bookings for $X.XX across the been fiscal strength would billion billion, $X.XX by bookings for constant Digital year up year-on-year, up growth were At XX% our services
Moving were resulted on to slightly $XX GAAP million. Operating quarter. in $X.XX less $X.XX net revenue our were above of for we billion, $XXX details the better guidance. expenses earnings income of than fourth the $X.XX, and guided. our Operating million, share $XXX million by than guidance our per was quarter
cash Operating $XXX the free cash flow quarter expenditures $XXX increased cash by million last the flow $XXX for and in was were from resulting of for million, driven down $XX million. quarter a Capital million, taxes royalties paid. year,
further You cash flow slides information. can see earnings this in for our
repurchase Since quarter-end, Board of the until billion have program. to we market and quarter, postpone to million next chosen the have capital the return our in plans economy, uncertainty repurchased $X.X management cost shares and in review Due million. During at the $XXX the a two-year, we completed quarter. a our of X.X
emphasize is this me business Let a is that extremely strong. today our precaution,
the Our quarter short-term were cash end investments and the $X.XX of billion. at
regards we $X debt, notes, have due Our to XXXX, and is $XXX maturing with in strong. March million senior million very in XXXX. $XXX balance sheet in With billion
to equates cash debt XXXX than flow. Our significantly fiscal less free
Now, Net well drivers billion, net the bookings driven in key $X.XX Digital I’d of guidance were business the to like our bookings were expectations quarter. digital billion, our bookings represented the year. business. of compares our This by above $X.XX to $X.XX billion, of our a Apex Digital to prior driven on with trailing business in record. a XX% and XX-month the Legends. basis, the versus net X Sims beat new XX% by turn
fiscal decrease The launch by the Live grew driven live ago, Apex growth the across Team Ultimate by strongly services a our Legends net year-on-year massive services. of $XXX million. XXXX. rest through bookings offset were is year of
in Mobile up of year-on-year, Asia. bookings delivered million, titles net $XXX driven by X% our sports
partially bookings PC game digital. and and downloads digital growth our down from in than console were quarter, XX% of net and by ongoing launch twelve last units underlying of the offset million, Anthem measured XX% Xbox per through to points by on Overall, months, we to the generated X year, X driven Full of shift last year. at physical, PlayStation over rather year-ago $XXX the sold continue the One percentage model
people, foremost cope we which to them in and Looking find with XX the are the first next ahead months, ourselves. we world focused on our supporting helping
games are players our content we the enabling them focused Second, services, on deliver to the slate. live through new we’re have on providing new our and we to
X%, we’re The XXXX, in growing the up PC market up in mobile in uncertain, market up terms. outlook on is gaming software modeling and single calendar X% mid but console dollar with X% digits basing our
meantime, on sports some esports hockey proving our to soccer live a well, services yet for performing extremely the In be the what addition, might although sports nor not outlet competitive are are In fans. our that football, impact when it known professional currently is and takes if popular time. our resume, might be business activities
our new the those games. There risks provide with deliver is on website. title earnings announced. identifies in associated that the as already ability guidance predicated are slide And outlined are I’m the about also presentation slate to our that titles on Note this only to
third-party both be includes studios in previously have forecast quarters. we announced coming FYXX which stated, and titles revenue from additional EA As our will
FYXX that on and could impact not we third-party risk is We’re less higher but control. the seeing change, have where our titles, material title for slate,
indicators the extremely form a games Nevertheless, affect to as the inexpensive our relatively historically potential resilient, and The of as has market business. entertainment. recession. are regard game future weak may have players of with video Finally, economic seen proven impact
are me I the reporting. Before also let discuss regards three changes to get numbers, we with making to
item, present revenue in and will one income GAAP service. we net than product the First, as statement as rather
Secondly, report align of we fees, bookings industry platform of to mobile will instead gross practice. net, with
composition We’ve to the line of presentation service IR business. to bookings net with our on and details on are published continue game updating more drive direction in we full website. sales, the we by Finally, live focus the
GAAP billion, net of EPS XXXX for revenue fiscal $X.XX. GAAP revenue of for of billion $X.XXX and is $X.XXX Guidance cost
benefits FYXX’s includes with share. EPS per compare a $X.XX last year, of you As tax remember GAAP one-time
to tax our fiscal for continue XXXX be We forecast management to the XX%. rate
higher fiscal variable flow income. and we compensation, slightly billion. with is cash about year-on-year, to around $X.XXX approximately would regards be operating to billion. underlying With deliver flow We flow profits flow capital lower than XXXX, expect cash for cash free interest cash by higher offset expenditures of million, Free which more taxes, and $X.XX cash of down higher anticipate $XXX
for billion, drivers, like-for-like plus on $X.XX business a net driven by launches sports we primarily of bookings to anticipate services, year be titles. basis. the partner Growth broad year-on-year is and portfolio X.X% Turning up strong a to live
net note Both a are from assume of term the numbers in likely of $XX more projections of as million, introduced these that near of Our uncertainties FX market by rates roughly the bookings result headwind we’d net are to pandemic. although to the volatile exchange hedges. be
Our our website. our in currency disclosed earnings assumptions on presentation are
drivers fiscal further $X.X into in live we XXXX, up our be compared and net to key X% down fiscal of XXXX; Drilling almost to billion, full X% services full-year bookings and $X.XX bookings the year-on-year. be net down game guidance, other to expect billion
deliver X% on net with services, XXXX, bookings a Finally, mobile fiscal live we million basis. of like-for-like in expect to $XXX up
expense reporting grow the uncertainties. fiscal operating management of in in X% macroeconomic will a control expenses On reflecting tight basis, XXXX, face
$X net billion. QX bookings be expect to We
orders month are growth date, could we’re of our and eased net only levels engagement we’re current and the subside lifted. stay-at-home and While and seeing very a quarter, engagement strong to into monetization as bookings
taking factors normal. to forecast beyond and than unprecedented more cautious are potentially control, view are impossible swing times above addition, these in thus our we huge, a In the discussed
the bookings be that of bookings should Note cash presentation. launching be noted the includes earnings timing presented this next upgraded recognition. of the for phasing impact preliminary current free quarterly that recognition nor of will it year the from a we games the of that we’ve that the made usual, just We’ve consoles the can flow, year, our not phasing for in estimate phasing. in are As effect But the also of full net for our generation. revenue net this the generation affect
the to content you and you. a games I’ll for finish of at when Every to shown by players everybody thanking at to personally enable ingenuity energy the Thank rising delivery us want one Company the challenge. time most. and them have
With that, I’ll hand it Andrew. back to
