EA - Earnings call transcript Q1 2022

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Operator

Good afternoon. My name is Christina, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Electronic Arts Q1 Fiscal 2022 Earnings Conference Call. Mr. Chris Evenden, VP of Investor Relations, you may begin your conference.

Chris Evenden

Christina. Thanks, First Earnings EA's Fiscal Quarter to Call. XXXX Welcome homes Wilson, CFO our me COO. today and Andrew their from our With CEO; are Blake and Jorgensen, Please release our note filings available at ir.ea.com. that earnings SEC our are and

we remarks. prepared addition, accompany have slides earnings In to detailed our posted

results posted call, call, regards this of may you to for earnings our and presentation Actual X. schedule fiscal regarding future financial the of today, Form include today, makes November after materially for our and it. most could differ events from company. And fiscal that to on replay the differ We X, XXXX, discussed reminder, refer we remarks call audio August from statements our and results a cause these duty our XXXX and our disclaims post calendar, as year we'll Lastly, those to to model risks of any is expectations. our Wednesday, discussion upcoming prepared our of Arts XX-K recent a entire and IR includes performance update our comments events calls earnings actual a and of the statements our as Electronic materially With scheduled financial website. transcript. QX and future forward-looking of This -

call presented this During otherwise stated. this of is GAAP a on basis. the be against free call, the prior All period will course in the financial made than flow, metrics, of with the the cash year comparisons in same exception are

call over to Now Andrew. the I'll turn

Andrew Wilson

thanking showed efforts since players Electronic who our We've We've NFL announced last call. launched titles. sports and We is a fantastic so months our next is to I continuing Madden Battlefield had our Integration experiences we're and It's are with be amazing coming great lot building few FX our during XXXX. this our XXXX. and the continue we've We've acquisition content. EAPlay-live what in going the summer to Playdemic, to to with continued Metalhead Codemasters, teams start are across of in of healthy. an unveiled in the Arts, and growing period. exciting Chris. been which event Thanks, unprecedented for and response, all leadership our Mobile Blue of upcoming step I and many out by today of games hope want mobile. FIFA pleased of anticipation create with a well, deliver strategy at great through all teams you for and fan stay another

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portfolio mobile and services now diversity now addition The our in of when spans Playdemic the we top title mobile lifestyle and EA. will breadth and joins Clash RPG the the sports, than sports Glu, multiple Golf XX live including casual, top major industry mobile With with spans of more services our add live genres, racing.

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Blake. to turn I'll over call Now the

Blake Jorgensen

than quarter, at Thanks, prior expected, services led high-quality showed this Two quarter growth primarily strength the by our of Live Takes by our Mass X from continued performed It through end games, the partnership Apex second Takes Legends. Andrew. Two, We the delivered outperformance a driven with QX. better in big and also Edition, new launched considerable and Effect It Legendary Studios. beat from very Hazelight title

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same up up last Notably, XX%; is Madden Glu sales acquisition, track a of and our respectively. to worth extraordinary up year - up Because understand to last grew and circumstances grow the broad even deliver organically the XX% X compare strength incredible period is the are on the extra year-on-year XX%, deliver over teams results with the XX%, year-on-year years underlying the XXX%; of last this against Ultimate mobile year's this X% launch to of and quarter it's the Ultimate alone impact XX% as ago with an strongly of engagement and Similarly, to the ongoing to excluding titles driven XXXX XX, compared The CAGR sales, than year's quarter fact lockdown portfolio an Team testament our comparisons, our also year Mobile, XX%. by content XX growth. QX Apex basis, quarter more in ability year ago. live more FIFA Given of better remains had the games game that the this the on record pre-COVID from difference. to that a blockbuster helpful of year's to within weeks a pandemic the Team, by QX equivalent than extra is of Codemasters year the XX% services. ago, from Legends our to and On week fiscal unique upside. including over CAGRs of catalog organically our is

last These integrate Metalhead and as have but sports increase Baseball, thanks to than Sports leveraged seeing our year's Playdemic. we the the started by Super pioneered the to our only agreement Gul opportunity We already substantially XXXX over our and and strategic considerable to Baseball, sports footprint made acquisitions Codemasters, mobile game announced progress by offer team up weeks few a of addition, Golf operation. MLB Clash. another new to also from more our Mobile completed FX We launched Tap global on XX% and to sell-through formats bring great commercial Mega and Codemasters ago, we're goals acquire acquisitions

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to billion billion, of turning now be $X.XX. Now and earnings We $X.XX XXXX per share of fiscal GAAP revenue up to to $X.XX, guidance. $X.XXX cost expect from be revenue

I interest services. Battlefield quarter, estimate full soon guidance not raise our ongoing despite our that too game expectations that our is It's from this performance for our include has share net $XXX very for in of remember, the unit strength raising yet this supported based in we EPS clear on to in far, Our the XXXX. for closed. by that booking any it by confidence guidance not live early And note that, the this sales raise year. calculation player does would rare so factor And repurchase buybacks not billion to program. Playdemic billion does given $X.X acquisition guidance year future under We're million X-year $X.X

the for strength earnings are now for for mix we high $X.X flow to to information. expenditures mid- profit in free post cash and press See capital are expectations expect a year, deliver $XXX are anticipating around billion. the further product even single flow our I by with fiscal we We've we cash briefly fiscal the $X.XX XXXX. downloadable would result, and underlying, operating $XXX growth that stronger in digits for model slides release of raised Underlying more the That billion, the XXXX, also million note of our for website. we on about million. guidance cash we our our strength would expect remaining with this position, strategic raising our specifics that in flow As

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Andrew? turn Andrew. We it to lost, I'll with So back that,

Andrew Wilson

miss like and Blake. say you, outstanding thank Thank I'd your Electronic for Sorry. all contributions Ken, you, echo Minor your to We'll sentiments glitch. to of thoughts Arts. and you.

I bringing players thank efforts, want their our world. games everything year. do to in of XXXX our even together and been and teams fiscal to for this Thanks started our FX to a I service Edition, we're like we It's content strong come. have and around call, As services continue the delivering to millions live Mass amazing again experiences new Legendary We're great of of our hundreds they to through Effect Apex more start Legends. players like

Our blockbuster our including growing we're business, positioned accelerating beyond. this and growth are year drivers, franchises continued and and in well live leadership services, mobile, building sports, for growth

I and Blake Now are for questions. here your

Operator

[Operator Instructions].

question from the Handler line first Your Eric with of comes Printers. MKM

Eric Handler

The first the for that. question, year-over-year then if got wonder real a to compare on with quickly a game could marketing you follow-up has I how And basis. changed FX. I've

Andrew Wilson

Yes. I think you would market to tell our you, go global that about when have I reach. how we think games, with just we

allows middle We combination Codemasters that existing franchise to the and partner have to franchise in and seen up. all of we've growth more is to able capabilities the we've continue Verstappen hotting marketing over game interesting us things players, of game of time. that organization in an than team that I that with target digital in extraordinarily with and what season expect as the competition take between that lapsed extraordinary processes Hamilton recent season potential the also meant is And and history an new and that has spectacular players. those FX been do together better grow at of data-driven any players kind an a kind And what strength, both to think is

Eric Handler

to last was with - year should I consequential game? this for And live services then any assume going year FX? And there's Great. there be we services assume live

Andrew Wilson

EA in this the It between partnership early - Codemasters and would game SPORTS. is

we that this we going time. is and to but continue get of and some think not So sustaining the about business will to of that is over of service future over a that base evolve. think base we play fan course the live extensive as how lot community and as time to certainly There year

Operator

of line the from Andrew with comes question Uerkwitz next Jefferies. Your

Andrew Marok

you But you you on growth going but to us go it X year don't thinking us want fiscal or next could think you briefly to into kind how about a of see any when mid-double more so could of plus give you're to to mention should bit if for I out that's color. give guidance help together digits Typically, we know about Blake, - want I growing kind color be more same? the any that how achieved? additional of rate. Is year, color piece it,

Blake Jorgensen

mute. Sorry. I on was

that. about Sorry

what top I will those, on and first we've in foremost, we at bases to substantial talent acquisitions and then line to own, the line titles that So our growth saying create build that and uptick And on growth those can we done. is, portfolio. bottom to both their focus look to continuing those new out as fuel acquisitions was start overall use add

forward. and Apex year. Mobile. said next not if going out markets in earlier. be in have driver think huge profitability in about China That that we should little We're very Second, this we market, year, in global could We've be test the a in

a have around But Speed We And before. that X-year and growth are we than imagine. coming thinking live organic can the we've in a I about on game clearly other more we're Need as about each business longer, are the as we future. through potential ever Battlefield have you operate acquisitions. and well to you'll And in games seen think year, generate I Battlefield tell the a better coming, cadence you hear not if for do try position such planned, of would We both we as others which how or up. services a mobile

Andrew Uerkwitz

the pushes the far - current have quarter the this versus think will I launch impact in it. the next what walk FIFA has we out. us how takes considering it's so considering Got and of on and shift about The Could back December date? question it it that, I'll should on bring you times. through to quarter appreciate

Blake Jorgensen

Yes.

of October people. on this, not technically example. we've street guidance this revenue the for our capture I QX. people We'll revenue, for But biggest to of So a FIFA the we people QX. ship usually, and ultimate their are know for part quarters we it's will it we'll first building little X, And which the because earlier in means are ship lot seen X program, teams. not actually of a on X are has our who also everyone as subscription for FIFA shown capture in in some quarters quarter clear

huge we And difference. we so we'll well it, both this with said shift full guidance see should for if FIFA going year, off next obviously, quarter which products. being we weren't and only of the QX as it year, growth a it's to in and strong it wouldn't full last dropped quarter confident in FIFA that have were QX, the for other as about dropping - started increase that a but our or when And make we generated grow year

Operator

Your from line Kraft Bryan of next question comes the with Deutsche Bank.

Bryan Kraft

what realized image players? including are is could the development? development you versus the how that guys And you And expecting there. and Dead extent are you the reboot guys your of you from on. from likeness games what franchise hoping Space And a using perspective, color focused secondly maybe you provide to on college then, add athletes something quickly more one name Was do could that generic think a bit little on to

Andrew Wilson

is I and add is studio very share the can one announcement according sets a very for has on. there's seen a that. Having there to on name that and as in of to very portfolio It's again, great in to with in with say context. small And lightness plausible rule would likely most generation about as And Skate, preview with lot Dead may that and engage partnership integrate positive back, I to on more Space, they just But point Dead us possible an also may announced the we on that if likeness more the how and a the are us image to yet, of great whatever the excited be and have architecture one and we can what that our add most for can build we building to very game - very image recently sweet football image back catalog but game we've emerge just to that athletes share the we'll we're when comes bringing - and name of or that game it's games the database provided taken saying college structure which been and seamlessly. that naming of titles existing so the to Space, that. the with What we're I maybe development to back just able Around it and likeness, a I has it online, absence we're believe there's lightness we're extraordinary and trailer conferences, with was demanded development. be by Two that out the over response us, little schools for was ways no close in and around believe extraordinary after looking in it time. next I partnership the we'll demand from bring able an players, also the questions. kind do players to of of would in with we to back continues.

Operator

next line Hickey of comes with your question Mike from Benchmark. And the

Unidentified Analyst

exciting guys. see. quarter, Two that questions. Awesome. Great Blake, to was

Ultimate Team, the to like FIFA XD tested loop packs, quarter, an boxes. on some subsequent, X look you in sort which alternative was of First maybe

in how second And just there curious question, changed learnings thinking the looking how of like the at play? test competitive the just free FIFA. It of event. you're from your that So curious about looks to sort So that you landscape on just competitive shifted environment. football to

Andrew Wilson

questions. is was it great preview the very community. answer two short well received On by packs, Yes, the

is well always was played spenders. friends, would coming engage, very of Our your Ultimate received. engagement, Premium it our saw your by a of world with was build we're football offer players. most mode And Team margin. connect towards community game the wide we conversion innovative that ways the connect team working and saw working of always rate higher FIFA to the Ultimate of with end with pack, of in the We creative closely and are increase ultimate a to say FIFA an team. said, I I and season. in and as down new

Evolution to is this in But to of that programs players can this our Soccer and committed taken time. over our the With change the football team we've tell to together we business continue in the that happen to very play, committed base. player believe seen around be to and before. has to Pro offers we business. very put We're some I innovate context. we're committed respect continue that you that So grow soccer to for to our through and going would names data and

grow strong in license heard that community experience ensure that years, in in base. upcoming FIFA, player continues what as and player we've football out got to and the continue of to to our much not listened game exclusively modes gone but authentic and of and that of over version underpins of content the We've continue We you core about just me hypermotion, to a result to in gameplay we're invest deeply that the an play and And the around engagement possible base. we're best seeing grow. the prepared talk our for extremely is demand franchise delivering global remarks innovation for the in

over delivering competition the we authentic do the player But continue to is believe we good. that, the is best planet. And again, is do always to comprehensive, and commitment cognizant always base have We're to So most doing. of on look time. to football and we'll our closely very competition game our that team what broad-based,

Operator

the line Matthew Securities. Your next comes of from Thornton Truist with question

Matthew Thornton

in for you earlier just I'm I hit commentary questions. Maybe to, things are Battlefield. is I'm any for this these curious that and you've any on Obviously, two, larger on just back guidance I next next that's Blake, the if on year, could, frontline coming dependent actually title if year, guess on dependent title. year. curious if got big,

of the interest Live, finally normal And the Battlefield. pivot sports be Does little dormant thoughts franchise there's other collegiate thoughts I'm Just type a NBA in in wondering every that curious there some around basketball to here. interest a updated just there. around there, given if going a I'm any there? there's relatedly, of Somewhat some release changes any bit have any curious around any in if year I'm with of on cadence world? curious if then aspire still

Blake Jorgensen

All our would is good I testament next this year Yes. say to a and - questions. business.

Next year great franchises coming new of and collection is to a all franchises. play

We've build title to what? we've And new in that one PGA existing or like we great of games on new franchises like or So business not across places franchises our back FX tried franchises always and that always a and will know one - driving business, titles, the mobile, you that Golf other poses because new bring collection franchises talked NCAA in about. title risk.

business. hear tried so with our remarks and That's you're services like a And you'll for next more great with our we seeing to growth say to year just next live in this going last associated them view now year. in And year reception to growth really feel not is we're good an we've think see our titles the the of a on products our - of path year. grow confident we're we - try next that forward going the continue after the And for give to prepared build and great incredible we're the right guidance marketplace. how years trying it. come. this that over on and to did about collection even I there But to We're business, but to next many not

more to going you We confident and that we're know we're we're want. more and closer. that But bottom top give just remember that's guys line that. line both as I So planning should what you we get two seeing growth now forward. We'll come you next questions. details trust your on don't And

Andrew Wilson

do I will in. our On every we jump think announced Battlefield what for orientation. - me game to reinventing the think of our - we're Let other warfare year doing about what revolutionizing really service - think would is context say an I I a in gameplay. what more is is this importantly, epic the you return that of as Battlefield all think launch, scale launch should we But and

long-term in some will coming Battlefield more happens the while nature a a of to about there, in engagement we hear components free to is months, of really which And the Battlefield about you a have heard foundation that on launch include lean include deep that, change future to user-generated from that should this launch. to into and announce Portal, around and we've service the addition will what's will is, forms Hazard a really In the disclose lot anchor starts content name Zone understand mobile which announced launch, you'll to the drive and we really over for what live going game. time what us believe we've

comes strength But well. about sports building for really We start is football is in not high-quality what we we - sports college our makes would other believe to does when at every any develop it today. I basketball. consumers your So XXX-day college think focused other engagement be your this that more in unique you on to where that to - global and company think year tell to a also the heard the play scale, sports. college a and match naming strength into may the on question on. delivering leading it an right that across - about us. us device talk other franchise and want world in opportunity part as it to across sports at you've for focus of as really probably level We're lightness launch I a would sense while a multiple Then that on start football. now was up is We're platform us our expand open

Operator

of from next Lu Your with comes the Barclays. question line Mario

Mario Lu

Battlefield. is one First on

sales you you're estimate sales. updating for not your unit for response to So deposit mentioned the title -

your with monetized monetization So terms I an in-app with purchases with as title. the on of historically to frame How thoughts should CSD? with in that new channel just opportunity upcoming wanted we hear

Blake Jorgensen

July. Normally, would guidance negative. take we or on a EX expose later than is it maybe don't earlier say I in Battlefield than the early It normally that, that we any we did way even What through do we Yes. Battlefield world is our in ultimately comments it do. the to would early June, on - as not and updating

raised trying disclosure then feeling very, what's very about we're in to the measure term an I company for But and upside have sure people the make didn't for wouldn't our year. potential year a about it. So if demand we guidance our we and was longer think to the feel pace And us, game off during it's that. we're the we that positive of full

of for more year. forth. You're interaction very perfect what Portal this team a a monetization next we we as and services, working our over Battlefield a selling relationship in-game but do, the lot trust that to the to works, you going a couple that about a now, tell with you'll create Battlefield of consumers all about long about that and simply that on said, they versus And ideas next the users more and hear have time. just what this, and to a I as some long-term example live how have long-term is over can't so want details of game of continue couple months. Andrew more months hard can to see this is very build that unique we with

Mario Lu

Great. Thanks, just one Blake. And on mobile.

Can synergies expect spend talk building a of In given down long-term you're this makes we the terms that lot should of Playdemic, about acquisition? just from strategic of the acquisition near- in you that support. and

Blake Jorgensen

Most yet of in in terms try synergies Playdemic's going continue Tap possible - across Well, portfolio their and ways done if haven't more baseball so in the Sports that teams, have But terms with been to game you're and companies. as management all and as what smaller. to see clearly going than say I to in the not you games. golf and develop include and would they are we to say of we in we've we've to of I closed, Playdemic their you've case historically we'll And mobile create the not is we've some that's Playdemic, strengths how to mobile. They games on find do to game, seen of the with and acquisitions synergies casual synergies, done best done with go-to-market a of with business, Baseball - on case strategies drive sales that are more X past. are companies we already, than say Glu, our in Metalhead as would these now job of which mobile all of to that better good leverage marketing in forth. seen we've strategies, FX exceptional able that of

game more I'd a I more tell the brought reason ideas And was our upside. we the huge the and what We have, it. And look that we the with if you at in or done, look globe. have or already global in expand a very where these potential but sports FIFA what closely the game make have mobile capabilities those globe us tell do Glu something sure we pretty global But we general worked and licenses, is or excited together. have there did the casual I talent the you - like we're you, help they've games what yet. Codemasters, Metalhead you to Playdemic potential the casual games about that on have teams at new or we to Playdemic's could we around with that deals give up the on could will come amazing try Madden can't numbers with like teams some around

Operator

Berenberg. Jamie question comes from Next line the with of Bass

Unidentified Analyst

me, from questions please. Two

the up you moment? lockdown And looks well the you Or still reviews holding well. trends like where very in still eased with different that in going terms far looks there a it versus going and where broadly that sales your received are engagement restrictions engagement? it? and at seeing it's like Firstly, more is so how game, expected secondly, more internal through been FX there's Is Is of expectations? any versus is of any outperformance that sort But very then markets markets everything.

Blake Jorgensen

quickly I think long. exceeded FX own expectations. I - business no game, the FX we've it negative on Yes. team that say was our didn't could the There's are the on just exceptional. for they we I mean because we would

at that. the we $X coming publishing well have exceeded is our marketing at but some we right of testament teams to EA up And amazing Apex. get But the to work unheard for development business not it's that. our it. right with X well do don't tell a help well the of quickly doesn't could I know of the team what's what? of has people And great of we companies And over now job industry. day, to as end are in credit sure produce it is of game really the really look - you credit working who business That's a don't and to with effort. think for us produce at we get And well to happened is they've question, materials team years. to probably marketing you can put great together. partnered almost questions. had Respawn we billion in try as to them. I I'm to enough that is care. That's And Apex, you acquisitions, of the what tried FX that, other and And is child And parts we've when think efforts drive the of for and and amazing drive actually, this might look business where we've of a we And with your Respawn quick. drive the obviously in we But a our extremely bunch This happens So together. I the that it have driven able company. - us integrate there with all able it's what to enough part marketing to do earlier teams together would great development fast have that do. was that the example And assets, as teams, our poster you great products an working you, and to we and of exceptional it we've to bring - acquired, the been I did? work

And do of can that all you so powerful great think or and that X been we've years. we to industry, in tell X done the combination and great across I acquisitions the I this in teams marketers that is really we've last the that prove would able

Andrew Wilson

who at aggregate to all I territories it's though track hard and in seen are is Yes. shutting tell we we of closed. is open territories And the restrictions point and or in and almost your strength different, across across lockdowns would this and is down I nature would jump tell various you and juncture I around various up globally, would who closed. anything that What On seeing in. given regardless opening being you and our business, are rollercoaster geographies restrictions have of happening open

leading to this into and what that it's you what building drives entertainment why ecosystems because they to prior that. we of the people had And the drives games not about to longevity made It's that kind think what quarter be playing interactive games work a to people it's is and returning to. social engagement that And just may business. connection forgo is is testament school connections friends a to see largely deepening returning context in our life. us think to returning as about we they or and some during our performance back in able to ongoing keep is or in level, this due at I to this this our general content of about around in coming is playing hear experiences, to the

I be the different is places. and think we're our in so what aggregate, engagement in in strong. to And world games on right is phases seeing around But continues different now extremely

Operator

the from comes Morgan line question with next Your Stanley. Nowak Brian of

Matthew Cost

for Two, on Matt It's I if Brian. could.

of extremely strength obviously, the comp hard. So quarter, in the the on just was Apex

would seen year-on-year that secondly, from the to And outperformance to sort I'm content So that initiatives Are been the out there. just pretty app seen in of the there of source the are an changes on geographies some you call necessary? heard or impressive ROI iOS feat. having any then the pieces mobile very peers and what that that's being side of guys impact they've in that space on recent we've you side, on or specific gaming they've that a spend have tracking increase on little experience for their UA other mobile wondering mobile of after advertising sort Apex.

Andrew Wilson

you Blake and Apex The jump thing. tell me then kind only is maybe of I thing one it's Let the hit in just would the not mobile piece. could ad any on

I the about support day, of Apex they moment of team core on really legend can about in about to is prepared the you gameplay. And can very innovations with experience the how new changes that they communities. and gameplay. add talked seeing - relationship really of team how gameplay, think the community, add of set using data play content now development arenas, my deeply - modalities a the on close extensions, what really the you do to extra really to and detailed think of started moment that There ongoing the the think the that and what how moment-to-moment this gameplay, to now really stuff about why those that that, as have continue remarks more so in of of And interesting, platforms. the the think in thinking think continue like they down I is engage to Respawn team the modalities - in broader to that the new any nature double about which using with they franchise. towards. geographies of given rule it's that taking what all unique and play kind around confident And content it's takes enhancement, global growing ongoing we're strength is is and I community with we're This interest. and in continue drives gravitates and that understand I And that a enhance context, new add we're that

Blake Jorgensen

go covers if your wrong, our part million we that in would a and my our should advertising, comments around wanted advertising somewhere year. very have It network think And their don't you I advertising not over not has to no is mobile, - mobile that large had it's a people may that willing play but else. leave Playdemic our you're never profitable Glu strategy way advertising for look and most of we saying working leave $XXX allow the of or take now on side think Part people network. to on on a we we've been We're close it's time. right means at views a important with huge to is what business. to business say We what that And of on is it's our other views And Yes. change right business with stay to historically. it we it, and games.

to learning the for And on that. in rules, road in stage more So to managed even us come past. down how advertising just - it's still make We relative the want upside to know new current where we're rules we that's go. it challenging. the if more the we We're

that play advertising see an time. via the we're to a versus so over are do to ways pay to out it trying willing to And is app are what game. to how for right world where advertising plays or people figure you pay the advertising or an video out we'll And play whatever

Andrew Wilson

advertising underlying while has have come our Yes. monetizing and our actually early, have significantly the even we that through has us, would one of in what technology. seen while been underlying base hasn't come add some giant And been They of we have with really is joined us thing opportunity Glu it today's there's our for They broader strong there they sense it expertise, of I is means business The us is combination that really kind global for technology, portfolio the as world. a likely is sense it's strong with expertise. than still better at upside been. reach

Operator

Johnson Gerrick Markets. BMO line Your question with from next Capital the of comes

Gerrick Johnson

synergies said for and just now months not Glu guidance not Codemasters, you include some like integrate. from to last some cost there. So had but sounds you've you've It quarter, instance, identified and synergies FX, revenue potential did synergies that X

your So $X.XX. about and you beat then X increased guidance, quarter

what And included your they have in now synergies identified? So you guidance? are

Blake Jorgensen

as synergies cost our revenue synergies are they occur. included occurring no are So in guidance. Clearly,

we to cost pointed we would. our better harder did predict. synergies Those we haven't FX out, we at thought OpEx you As line. in than But are yet implanted

changes For either in negative. - or example, staffing, in executives, changes positive changes

going over way of there everyone would to We've you would more into what to of guidance see making of You next should some as the we're and tell be those very and appraised to been possible there the - months. are happen, the sure determining assume I all that made, across quarters, potential normally focused next bringing drive in and right the successful few will we are over synergies. then X we'll on try is but company But we'll that. X as large which to those we've acquisitions changes, is layer the keep synergies

Gerrick Johnson

How happening games. have year, think fans stands. people year, with sports games going launched a the last your stands? There were you actually lift and and This cutouts And Great. provides in do much the stands we're in your full to of with sports Okay. you when stands. cardboard it

Blake Jorgensen

we way the Andrew go get hope to the actually that, people I'll stands real to other because I in but might we now. right Well, pull answer

knows? who So

Andrew Wilson

world going point. was be to my It's That to hard go. the where exactly going is to understand

fans unlikely in have get stadiums, whole without vaccination. around fans masks we and/or I testing back that just that our events some But think protocols we fans may in and/or it's the sports stadiums. and we see is

don't our did, the amount engagement we really uplift I more know both hard fact last was we the grow to many broadly. had. people sport playing really year fact, that quantify that time were means support of saw where consume can leading when you a allow engage that think games us and the That do what for they or in people, it's us to what at the and deeper to I sentiment live engagement almost month-to-month, and of sports the our And have happening and fan on real look our to will stronger drive it in player week-to-week, happened what build sport but in basis, gets really inevitably everyone of will what certainly will has to in our connection just teams season-to-season between games. is forms to a overall world games. positive a day-to-day,

almost any So net-net, a us. pandemic, the around for certainly notwithstanding positive further challenges it's

Operator

James. of with Marok Raymond line comes from Andrew Your next the question

Andrew Marok

And call And notable reopening? behavior to is players newer drill have newer established months? things been Team. the has a difference XX wanted on there is from last maybe there cohorts? more like ecosystem down I to out come anything into compared XX that Ultimate How in to there bit cohort's over that any player behavior to on the

Blake Jorgensen

always would in newer we the as Yes. say have come game players that I grows.

getting part more playing growth. also once it; we because a social they play involved happens, towards become They more and Ultimate immediately to see in that's players Newer And will that two, X, to don't network got to on involved take how steps of Team. day one, it. to get they got understand start

the we so season. And see during growth

lot We interested have doing. pre-COVID in in a for of social that haven't interaction to something or post-COVID really seen around a that is a people way because change it they're

engagement, And And for so participation games. the are and to in Team the biggest way across Ultimate results some grown continue overall we in those another. Ultimate franchises spending to ultimate which Team we've drive the or the know overall us grown We've franchise of all underlying teams. X around ultimately drivers

see we're during COVID that And continue get think to people more pretty we even engaged. I so the and more confident crisis,

a last and seeing home, we've that may simply seen it we're be for the a excitement work They the that's that at are the lot of lot around people but because what people a working of years by there's seasons about physical pumped driven couple in of Team. of really lot fact also global up that's Ultimate and been over what gets excitement, movement, the is playing position. of not soccer Some player

Andrew Wilson

franchises. in about the detail a friends in to in Yes. when very Again, around that sport. I the long-term And become in And certainly just balanced most and lot there. strong your way it FIFA little it's add of connect would some mode and and Team, think Ultimate we it's has played

As packs are packs actually about earned and XX this, we don't think X/X out of opened play Ultimate people who with X coins. of Team only buy

that And coming around so new we're what packs digital was always constant trying we of And of participating high we incidence we Team with and to ecosystem. in new ensure saw community. the and a balance those conversion saw Ultimate enjoyment players engagement players buying higher of and premium in packs and saw in of our player

that to look creative going and new are that deeply think your and to and is will think connection premium grow. and teams that, engage, we and continue to innovative our term, that allow people grow. model again, is ways sport really love means And the So and continue long you examples. interesting more to to those friends connections for to to of packs We continue a of one

Blake Jorgensen

more time that is Or Chris, one got it? for question? we

Chris Evenden

think I that's it. No,

you time So at me or out. to call close just the now want put if

Blake Jorgensen

get And for each everybody soon. with and hopefully, and questions, you days in forward couple person these your other to over all interacting see one Well, thank of of you next we the months. good we to interest look

I So it. appreciate - but

Andrew Wilson

all. you well. Stay Thank

Operator

conference today's participation. Thank your concludes This call. you for

now disconnect. may You

Electronic Arts (EA) 5 Aug 212022 Q1 Earnings call transcript