U.S. Markets closed
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • Dow 30

    35,294.76
    +382.20 (+1.09%)
     
  • Nasdaq

    14,897.34
    +73.91 (+0.50%)
     
  • Russell 2000

    2,265.65
    -8.52 (-0.37%)
     
  • Gold

    1,768.10
    -29.80 (-1.66%)
     
  • EUR/USD

    1.1606
    +0.0005 (+0.0464%)
     
  • 10-Yr Bond

    1.5760
    +0.0570 (+3.75%)
     
  • Vix

    16.30
    -0.56 (-3.32%)
     
  • GBP/USD

    1.3751
    +0.0074 (+0.5418%)
     
  • USD/JPY

    114.2000
    +0.5230 (+0.4601%)
     
  • BTC-USD

    60,985.57
    -826.48 (-1.34%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • Nikkei 225

    29,068.63
    +517.70 (+1.81%)
     

Electronic Arts Reports Q4 and FY21 Financial Results

  • Oops!
    Something went wrong.
    Please try again later.
·15 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Results Above Expectations, Record Annual Operating Cash Flow Driven by Successful New Games, Live Services Engagement, and Network Growth

Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fiscal fourth quarter and full year ended March 31, 2021.

"Our teams have done incredible work over the last year to deliver amazing experiences during a very challenging time for everyone around the world," said Andrew Wilson, CEO of Electronic Arts. "With tremendous engagement across our portfolio, we delivered a record year for Electronic Arts. We’re now accelerating in FY22, powered by expansion of our blockbuster franchises to more platforms and geographies, a deep pipeline of new content, and recent acquisitions that will be catalysts for further growth."

"EA delivered a strong quarter, driven by live services and Apex Legends’ extraordinary performance. Apex steadily grew through the last year, driven by the games team and the content they are delivering," said COO and CFO Blake Jorgensen. "Looking forward, the momentum in our existing live services provides a solid foundation for FY22. Combined with a new Battlefield and our recent acquisitions, we expect net bookings growth in the high teens."

Selected Operating Highlights and Metrics

  • Net bookings1 for fiscal 2021 was $6.190 billion, up 15% year-over-year, and over $600 million above original expectations.

  • Delivered 13 new games and had more than 42 million new players join our network during the fiscal year.

  • FIFA 21, life to date, has more than 25 million console/PC players.

  • FIFA Ultimate Team™ players grew 16% year-over-year and FUT matches were up 180%.

  • Apex Legends™ has more than 100 million players life to date on console/PC, and Season 8 had more than 12 million weekly average players.

  • Record number of new players joined Madden NFL on console/PC during fiscal 21.

  • The Sims™ 4, life to date, has almost 36 million players and delivered its sixth consecutive year of franchise growth.

Selected Financial Highlights and Metrics

  • Net cash provided by operating activities was $371 million for the quarter and $1.934 billion for the fiscal year.

  • EA repurchased 2.4 million shares for $325 million during the quarter, bringing the total for the fiscal year to 5.6 million shares for $729 million.

  • EA paid a cash dividend of $0.17 per share during the quarter.

Dividend

EA has declared a quarterly cash dividend of $0.17 per share of the Company’s common stock. The dividend is payable on June 23, 2021 to shareholders of record as of the close of business on June 2, 2021.

Quarterly Financial Highlights

Three Months Ended

March 31,

2021

2020

(in $ millions, except per share amounts)

Full game

250

356

Live services and other

1,096

1,031

Total net revenue

1,346

1,387

Net income

76

418

Diluted earnings per share

0.26

1.43

Operating cash flow

371

498

Value of shares repurchased

325

291

Number of shares repurchased

2.4

2.7

The following GAAP-based financial data2 and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Three Months Ended March 31, 2021

GAAP-Based Financial Data

(in $ millions)

Statement of
Operations

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-
enabled
games)

Stock-based
compensation

Total net revenue

1,346

-

144

-

Cost of revenue

319

(4

)

-

(1

)

Gross profit

1,027

4

144

1

Total operating expenses

852

(14

)

-

(108

)

Operating income

175

18

144

109

Interest and other income (expense), net

(10

)

-

-

-

Income before provision for income taxes

165

18

144

109

Number of shares used in computation:

Diluted

290

Fiscal Year Financial Highlights

Twelve Months Ended

March 31,

2021

2020

(in $ millions)

Full game

1,613

1,887

Live services and other

4,016

3,650

Total net revenue

5,629

5,537

Net income

837

3,039*

Diluted earnings per share

2.87

10.30*

Operating cash flow

1,934

1,797

Value of shares repurchased

729

1,207

Number of shares repurchased

5.6

12.3

*Includes the impact of one-time tax benefits recognized during the period.

The following GAAP-based financial data2 and tax rate of 18% was used internally by company management to adjust its GAAP results in order to assess EA’s operating results:

Twelve Months Ended March 31, 2021

GAAP-Based Financial Data

(in $ millions)

Statement of
Operations

Acquisition-
related
expenses

Change in
deferred net
revenue
(online-
enabled
games)

Stock-based
compensation

Total net revenue

5,629

-

561

-

Cost of revenue

1,494

(4

)

-

(5

)

Gross profit

4,135

4

561

5

Total operating expenses

3,089

(30

)

-

(430

)

Operating income

1,046

34

561

435

Interest and other income (expense), net

(29

)

-

-

-

Income before provision for income taxes

1,017

34

561

435

Number of shares used in computation:

Diluted

292

Operating Metric

The following is a calculation of our total net bookings1 for the periods presented:

Three Months Ended

Twelve Months Ended

March 31,

March 31,

2021

2020

2021

2020

(in $ millions)

Total net revenue

1,346

1,387

5,629

5,537

Change in deferred net revenue (online-enabled games)

144

(131

)

561

(165

)

Net bookings

1,490

1,256

6,190

5,372

Business Outlook as of May 11, 2021

Our financial expectations for the first quarter ending June 30, 2021 and the fiscal year ending March 31, 2022 include estimates of the impact of our recent acquisitions on consolidated results, including our acquisition of Glu Mobile on April 29, 2021. The GAAP and operating cash flow estimates could be materially impacted as we integrate these recent acquisitions.

Fiscal Year 2022 Expectations – Ending March 31, 2022

Financial metrics:

  • Net revenue is expected to be approximately $6.800 billion.

    • Change in deferred net revenue (online-enabled games) is expected to be approximately $500 million.

  • Net income is expected to be approximately $390 million.

  • Diluted earnings per share is expected to be approximately $1.34.

  • Operating cash flow is expected to be approximately $1.750 billion.

  • The Company estimates a share count of 292 million for purposes of calculating fiscal year 2022 diluted earnings per share.

Operational metric:

  • Net bookings1 is expected to be approximately $7.300 billion.

In addition, the following outlook for GAAP-based financial data2 and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Twelve Months Ending March 31, 2022

GAAP-Based Financial Data

GAAP
Guidance

Acquisition-
related
expenses

Change in
deferred net
revenue (online-
enabled games)

Stock-based
compensation

(in $ millions)

Total net revenue

6,800

-

500

-

Cost of revenue

1,828

(40

)

-

-

Operating expense

4,125

(285

)

-

(575

)

Income before provision for income taxes

790

325

500

575

Net income

390

Number of shares used in computation:

Diluted shares

292

First Quarter Fiscal Year 2022 Expectations – Ending June 30, 2021

Financial metrics:

  • Net revenue is expected to be approximately $1.475 billion.

    • Change in deferred net revenue (online-enabled games) is expected to be approximately $(225) million.

  • Net income is expected to be approximately $70 million.

  • Diluted earnings per share is expected to be approximately $0.24.

  • The Company estimates a share count of 291 million for purposes of calculating first quarter fiscal 2022 diluted earnings per share.

Operational metric:

  • Net bookings1 is expected to be approximately $1.250 billion.

In addition, the following outlook for GAAP-based financial data2 and a long-term tax rate of 18% are used internally by EA to adjust our GAAP expectations to assess EA’s operating results and plan for future periods:

Three Months Ending June 30, 2021

GAAP-Based Financial Data

GAAP
Guidance

Acquisition-
related
expenses

Change in
deferred net
revenue (online-
enabled games)

Stock-based
compensation

(in $ millions)

Total net revenue

1,475

-

(225

)

-

Cost of revenue

287

(5

)

-

-

Operating expense

955

(70

)

-

(125

)

Income before provision for income taxes

220

75

(225

)

125

Net income

70

Number of shares used in computation:

Diluted shares

291

Conference Call and Supporting Documents

Electronic Arts will host a conference call on May 11, 2021 at 2:00 pm PT (5:00 pm ET) to review its results for the fiscal quarter and year ended March 31, 2021 and its outlook for the future. During the course of the call, Electronic Arts may disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number (866) 324-3683 (domestic) or (509) 844-0959 (international), using the conference code 1076176 or via webcast at EA’s IR Website at http://ir.ea.com.

EA has posted a slide presentation with a financial model of EA’s historical results and guidance on EA’s IR Website. EA will also post the prepared remarks and a transcript from the conference call on EA’s IR Website.

A dial-in replay of the conference call will be available until May 25, 2021 at 855-859-2056 (domestic) or 404-537-3406 (international) using pin code 1076176. An audio webcast replay of the conference call will be available for one year on EA’s IR Website.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA’s fiscal 2022 expectations under the heading "Business Outlook as of May 11, 2021," and other information regarding EA's fiscal 2022 expectations contain forward-looking statements that are subject to change. Statements including words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "predict," "seek," "goal," "will," "may," "likely," "should," "could" (and the negative of any of these terms), "future" and similar expressions also identify forward-looking statements. These forward-looking statements are not guarantees of future performance and reflect management’s current expectations. Our actual results could differ materially from those discussed in the forward-looking statements.

Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: the impact of the COVID-19 pandemic, sales of the Company’s products and services; the Company’s ability to develop and support digital products and services, including managing online security and privacy; outages of our products, services and technological infrastructure; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; governmental regulations; the effectiveness of the Company’s sales and marketing programs; timely development and release of the Company’s products and services; the Company’s ability to realize the anticipated benefits of, and integrate, acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; general economic conditions; changes in our tax rates or tax laws; and other factors described in Part II, Item 1A of Electronic Arts’ latest Quarterly Report on Form 10-Q under the heading "Risk Factors", as well as in other documents we have filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2020.

These forward-looking statements are current as of May 11, 2021. Electronic Arts assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts.

While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Annual Report on Form 10-K for the fiscal year ended March 31, 2021. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-K for the fiscal year ended March 31, 2021.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers.

In fiscal year 2021, EA posted GAAP net revenue of $5.6 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as EA SPORTS™ FIFA, Battlefield™, Apex Legends™, The Sims™, Madden NFL, Need for Speed™, Titanfall™ and Plants vs. Zombies™. More information about EA is available at www.ea.com/news.

EA SPORTS, Ultimate Team, Battlefield, Need for Speed, Apex Legends, The Sims, Titanfall and Plants vs. Zombies are trademarks of Electronic Arts Inc. John Madden, NFL, and FIFA are the property of their respective owners and used with permission.

1 Net bookings is defined as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net revenue to the change in deferred net revenue for online-enabled games.

2 For more information about the nature of the GAAP-based financial data, please refer to EA’s Form 10-K for the fiscal year ended March 31, 2020.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

(in $ millions, except per share data)

Three Months Ended

Twelve Months Ended

March 31,

March 31,

2021

2020

2021

2020

Net revenue

1,346

1,387

5,629

5,537

Cost of revenue

319

269

1,494

1,369

Gross profit

1,027

1,118

4,135

4,168

Operating expenses:

Research and development

468

402

1,778

1,559

Marketing and sales

196

167

689

631

General and administrative

174

142

592

506

Acquisition-related contingent consideration

5

Amortization of intangibles

14

6

30

22

Total operating expenses

852

717

3,089

2,723

Operating income

175

401

1,046

1,445

Interest and other income (expense), net

(10

)

13

(29

)

63

Income before provision for (benefit from) income taxes

165

414

1,017

1,508

Provision for (benefit from) income taxes

89

(4

)

180

(1,531

)

Net income

76

418

837

3,039

Earnings per share

Basic

0.26

1.44

2.90

10.37

Diluted

0.26

1.43

2.87

10.30

Number of shares used in computation

Basic

288

290

289

293

Diluted

290

292

292

295

Results (in $ millions, except per share data)
The following table reports the variance of the actuals versus our guidance provided on February 2, 2021 for the three months ended March 31, 2021 plus a comparison to the actuals for the three months ended March 31, 2020.

Three Months Ended March 31,

2021

2021

2020

Guidance

Variance

Actuals

Actuals

Net revenue

Net revenue

1,317

29

1,346

1,387

GAAP-based financial data

Change in deferred net revenue (online-enabled games)1

58

86

144

(131

)

Cost of revenue

Cost of revenue

302

17

319

269

GAAP-based financial data

Acquisition-related expenses

(4

)

(4

)

(3

)

Stock-based compensation

(1

)

(1

)

(1

)

Operating expenses

Operating expenses

837

15

852

717

GAAP-based financial data

Acquisition-related expenses

(4

)

(10

)

(14

)

(6

)

Stock-based compensation

(114

)

6

(108

)

(90

)

Income before tax

Income before tax

172

(7

)

165

414

GAAP-based financial data

Acquisition-related expenses

4

14

18

9

Change in deferred net revenue (online-enabled games)1

58

86

144

(131

)

Stock-based compensation

114

(5

)

109

91

Tax rate used for management reporting

18

%

18

%

18

%

Earnings (loss) per share

Basic

(0.07

)

0.33

0.26

1.44

Diluted

(0.07

)

0.33

0.26

1.43

Number of shares

Basic

289

(1

)

288

290

Diluted

289

1

290

292

1The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

In fiscal 2021, EA changed the way in which it presents net revenue. Periods prior to the first quarter of fiscal 2021 have been recast for comparability to align with these changes. For more information please see the Financial Reporting FAQ on our Investor Relations Website.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets

(in $ millions)

March 31, 2021

March 31, 20202

ASSETS

Current assets:

Cash and cash equivalents

5,260

3,768

Short-term investments

1,106

1,967

Receivables, net

521

461

Other current assets

326

321

Total current assets

7,213

6,517

Property and equipment, net

491

449

Goodwill

2,868

1,885

Acquisition-related intangibles, net

309

53

Deferred income taxes, net

2,045

1,903

Other assets

362

305

TOTAL ASSETS

13,288

11,112

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

96

68

Accrued and other current liabilities

1,341

1,052

Deferred net revenue (online-enabled games)

1,527

945

Senior notes, current, net

599

Total current liabilities

2,964

2,664

Senior notes, net

1,876

397

Income tax obligations

315

373

Deferred income taxes, net

43

1

Other liabilities

250

216

Total liabilities

5,448

3,651

Stockholders’ equity:

Common stock

3

3

Retained earnings

7,887

7,508

Accumulated other comprehensive loss

(50

)

(50

)

Total stockholders’ equity

7,840

7,461

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

13,288

11,112

2Derived from audited consolidated financial statements.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Cash Flows

(in $ millions)

Three Months Ended
March 31,

Twelve Months Ended
March 31,

2021

2020

2021

2020

OPERATING ACTIVITIES

Net income

76

418

837

3,039

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization and accretion

58

39

181

150

Acquisition-related contingent consideration

5

5

Stock-based compensation

109

91

435

347

Change in assets and liabilities

Receivables, net

268

340

(41

)

164

Other assets

(42

)

(41

)

(70

)

35

Accounts payable

(11

)

(3

)

18

(36

)

Accrued and other liabilities

(109

)

(145

)

136

119

Deferred income taxes, net

(125

)

(78

)

(143

)

(1,871

)

Deferred net revenue (online-enabled games)

147

(128

)

581

(155

)

Net cash provided by operating activities

371

498

1,934

1,797

INVESTING ACTIVITIES

Capital expenditures

(31

)

(40

)

(124

)

(140

)

Proceeds from maturities and sales of short-term investments

1,598

767

3,686

2,142

Purchase of short-term investments

(772

)

(738

)

(2,828

)

(3,359

)

Acquisitions, net of cash acquired

(1,239

)

(1,239

)

Net cash used in investing activities

(444

)

(11

)

(505

)

(1,357

)

FINANCING ACTIVITIES

Proceeds from issuance of senior notes, net of issuance costs

1,478

1,478

Payment of senior notes

(600

)

(600

)

Proceeds from issuance of common stock

30

28

86

62

Cash dividends paid

(49

)

(98

)

Cash paid to taxing authorities for shares withheld from employees

(8

)

(5

)

(152

)

(91

)

Repurchase and retirement of common stock

(325

)

(291

)

(729

)

(1,207

)

Payment of contingent consideration

(32

)

(122

)

Net cash provided by (used in) financing activities

526

(300

)

(15

)

(1,358

)

Effect of foreign exchange on cash and cash equivalents

35

(22

)

78

(22

)

Change in cash and cash equivalents

488

165

1,492

(940

)

Beginning cash and cash equivalents

4,772

3,603

3,768

4,708

Ending cash and cash equivalents

5,260

3,768

5,260

3,768

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions, except per share data)

Q4

Q1

Q2

Q3

Q4

YOY %

FY20

FY21

FY21

FY21

FY21

Change

Net revenue

Net revenue

1,387

1,459

1,151

1,673

1,346

(3

%)

GAAP-based financial data

Change in deferred net revenue (online-enabled games)1

(131

)

(69

)

(241

)

727

144

Gross profit

Gross profit

1,118

1,171

865

1,072

1,027

(8

%)

Gross profit (as a % of net revenue)

81

%

80

%

75

%

64

%

76

%

GAAP-based financial data

Acquisition-related expenses

3

4

Change in deferred net revenue (online-enabled games)1

(131

)

(69

)

(241

)

727

144

Stock-based compensation

1

1

2

1

1

Operating income

Operating income

401

471

149

251

175

(56

%)

Operating income (as a % of net revenue)

29

%

32

%

13

%

15

%

13

%

GAAP-based financial data

Acquisition-related expenses

9

5

6

5

18

Change in deferred net revenue (online-enabled games)1

(131

)

(69

)

(241

)

727

144

Stock-based compensation

91

102

113

111

109

Net income

Net income

418

365

185

211

76

(82

%)

Net income (as a % of net revenue)

30

%

25

%

16

%

13

%

6

%

GAAP-based financial data

Acquisition-related expenses

9

5

6

5

18

Change in deferred net revenue (online-enabled games)1

(131

)

(69

)

(241

)

727

144

Stock-based compensation

91

102

113

111

109

Tax rate used for management reporting

18

%

18

%

18

%

18

%

18

%

Diluted earnings per share

1.43

1.25

0.63

0.72

0.26

(82

%)

Number of diluted shares used in computation

Basic

290

288

289

290

288

Diluted

292

292

293

292

290

1The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

In fiscal 2021, EA changed the way in which it presents net revenue. Periods prior to the first quarter of fiscal 2021 have been recast for comparability to align with these changes. For more information please see the Financial Reporting FAQ on our Investor Relations Website.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions)

Q4

Q1

Q2

Q3

Q4

YOY %

FY20

FY21

FY21

FY21

FY21

Change

QUARTERLY NET REVENUE PRESENTATIONS

Net revenue by composition

Full game downloads

211

223

163

347

185

(12

%)

Packaged goods

145

136

119

375

65

(55

%)

Full game

356

359

282

722

250

(30

%)

Live services and other

1,031

1,100

869

951

1,096

6

%

Total net revenue

1,387

1,459

1,151

1,673

1,346

(3

%)

Full game

26

%

25

%

25

%

43

%

19

%

Live services and other

74

%

75

%

75

%

57

%

81

%

Total net revenue %

100

%

100

%

100

%

100

%

100

%

GAAP-based financial data

Full game downloads

(21

)

(5

)

(2

)

53

(19

)

Packaged goods

(67

)

(67

)

(14

)

83

(44

)

Full game

(88

)

(72

)

(16

)

136

(63

)

Live services and other

(43

)

3

(225

)

591

207

Total change in deferred net revenue (online-enabled games) by composition1

(131

)

(69

)

(241

)

727

144

Net revenue by platform

Console

928

932

714

1,191

879

(5

%)

PC & Other

274

325

249

326

295

8

%

Mobile

185

202

188

156

172

(7

%)

Total net revenue

1,387

1,459

1,151

1,673

1,346

(3

%)

GAAP-based financial data

Console

(143

)

(108

)

(201

)

619

71

PC & Other

7

15

(24

)

73

51

Mobile

5

24

(16

)

35

22

Total change in deferred net revenue (online-enabled games) by platform1

(131

)

(69

)

(241

)

727

144

1The change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of cash flows does not necessarily equal the change in deferred net revenue (online-enabled games) in the unaudited condensed consolidated statements of operations primarily due to the impact of unrecognized gains/losses on cash flow hedges.

In fiscal 2021, EA changed the way in which it presents net revenue. Periods prior to the first quarter of fiscal 2021 have been recast for comparability to align with these changes. For more information please see the Financial Reporting FAQ on our Investor Relations Website.

ELECTRONIC ARTS INC. AND SUBSIDIARIES

Unaudited Supplemental Financial Information and Business Metrics

(in $ millions)

Q4

Q1

Q2

Q3

Q4

YOY %

FY20

FY21

FY21

FY21

FY21

Change

CASH FLOW DATA

Operating cash flow

498

378

61

1,124

371

(26

%)

Operating cash flow - TTM

1,797

2,017

2,041

2,061

1,934

8

%

Capital expenditures

40

38

25

30

31

(23

%)

Capital expenditures - TTM

140

133

131

133

124

(11

%)

Repurchase and retirement of common stock

291

78

326

325

12

%

Cash dividends paid

49

49

100

%

DEPRECIATION

Depreciation expense

31

31

32

37

38

23

%

BALANCE SHEET DATA

Cash and cash equivalents

3,768

4,013

4,059

4,772

5,260

Short-term investments

1,967

1,947

1,972

1,938

1,106

Cash and cash equivalents, and short-term investments

5,735

5,960

6,031

6,710

6,366

11

%

Receivables, net

461

507

423

778

521

13

%

STOCK-BASED COMPENSATION

Cost of revenue

1

1

2

1

1

Research and development

59

66

74

74

71

Marketing and sales

10

11

12

11

12

General and administrative

21

24

25

25

25

Total stock-based compensation

91

102

113

111

109

Category: Company News

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511006036/en/

Contacts

Chris Evenden
Vice President, Investor Relations
650-628-0255
cevenden@ea.com

John Reseburg
Vice President, Global Communications
650-628-3601
jreseburg@ea.com