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Electronic Arts (EA) Q1 2023 earnings results beat EPS & revenue expectations

Electronic Arts found success once again on the back of strong seasons for Apex Legends, FIFA, and more.

August 2, 2022 1:30 PM

This week in tech and video game industry earnings results, it’s Electronic Arts’ turn to report on its most recent financial quarter. EA’s Q1 2023 earnings results were recently posted and it had a lot of good news to share for the company. Electronic Arts was able to post wins from its earnings results in terms of revenue and earnings-per-share (EPS) against overall expectations. The company is in solid shape as it exits the first stage of its 2023 fiscal year.

Electronic Arts released its Q1 2023 earnings results on its investor relations website on August 2, 2022. The biggest matters of note were its success in overcoming both revenue and EPS expectations. The company put up a revenue of $1.77 billion USD against an expectation of $1.3 billion. Its EPS also overachieved, finishing 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 out handily.

A look at Electronic Arts' post-market-close stock chart on August 2, as provided by Google — Electronic Arts' (EA) stock value took a dip after the Q1 2023 earnings results, but quickly picked up to rise over market close values.
Source: Google

It should come as little surprise what guided Electronic Arts to another successful quarter. Apex Legends not only got a launch on mobile devices, but also featured one of its most played seasons yet in Season 12 of the core game. Apex Legends has been in Season 13 and is preparing to launch Season 14 shortly, but we see how those do in Electronic Arts’ Q2 2023 earnings results.

That wasn’t all, though. Despite breaking off partnerships with the FIFA organization to run its own branding on soccer games, EA Sports FIFA was still a hugely popular brand for the company, gathering over 150 million accounts across its last FIFA products.

Between the incoming Apex Legends Season 14, a new EA Sports Madden NFL 23, and what comes next for EA Sports FC, it should be an interesting next few quarters for Electronic Arts. Stay tuned for more tech and video game industry earnings reporting here at Shacknews.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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