Electronic Arts (EA) CEO Andrew Wilson on Q1 2015 Results – Earnings Call Transcript

Source: Seeking Alpha

 

Electronic Arts (NASDAQ:EA)

Q1 2015 Results Earnings Conference Call

July 22, 2014, 5:00 p.m. ET

Executives

Andrew Wilson – Chief Executive Officer

Blake Jorgensen – Chief Financial Officer

Frank Gibeau – Executive Vice President at Mobile

Peter Moore – Chief Operating Officer

Rob Sison – Vice President of Investor Relations

Patrick Soderlund – EVP, EA Studios

Analysts

Colin Sebastian – Robert Baird

Edward Williams – BMO Capital

Doug Creutz – Cowen & Company

Justin Post – Bank of America Merrill Lynch

Stephen Ju – Credit Suisse

Arvind Bhatia – Sterne Agee

Mike Olson – Piper Jaffray

Brian Pitz – Jefferies & Company

Drew Crum – Stifel

Ben Schachter – Macquarie

James Hardiman – Longbow Research

Mike Hickey – The Benchmark Company

Sean McGowan – Needham & Company

Operator

Welcome and thank you for standing by. [Operator instructions.] Now, I’ll turn the meeting over to Mr. Rob Sison, Vice President of Investor Relations. You may begin.

Rob Sison – Vice President of Investor Relations

Thank you, operator. Welcome to EA’s fiscal 2015 first quarter earnings call. With me on the call today are Andrew Wilson, our CEO; and Blake Jorgensen, our CFO. Frank Gibeau, our EVP of mobile; Peter Moore, our COO; and Patrick Soderlund, our EVP of EA Studios, will be joining us for the Q&A portion of the call.

Please note that our SEC filings and our earnings release are available at ir.ea.com. In addition, we have posted earnings slides to accompany our prepared remarks. Lastly, after the call, we will post our prepared remarks, an audio replay of this call, and a transcript.

This presentation and our comments include forward-looking statements regarding future events and the future financial performance of the company. Actual events and results may differ materially from our expectations.

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We refer you to our most recent Form 10-K for a discussion of risks that could cause actual results to differ materially from those discussed today. Electronic Arts makes these statements as of July 22, 2014 and disclaims any duty to update them.

During this call, unless otherwise stated, the financial metrics will be presented on a non-GAAP basis. Our earnings release and the earnings slides provide a reconciliation of our GAAP to non-GAAP measures. These non-GAAP measures are not intended to be considered in isolation from, as a substitute for, or superior to our GAAP results.

We encourage investors to consider all measures before making an investment decision. All comparisons made in the course of this call are against the same period in the prior year unless otherwise stated.

Now, I’ll turn the call over to Andrew.

Andrew Wilson – Chief Executive Officer

Thanks, Rob. Earlier this afternoon, we released our Q1 earnings report detailing a strong start to fiscal year 2015 for Electronic Arts. At EA, we have a commitment to put our players first, holding at our core that every game, every live service, every EA experience will deliver the entertainment, innovation, creativity and value that our players want.

With a strong slate of exciting new titles and fresh content served to players in our live services, we are well-positioned to deliver on that commitment in FY15. Around the world, more than 300 million registered players are engaging with the long-lasting entertainment provided by EA’s games and services today.

In the last quarter, gamers played more than 13.6 billion online sessions of EA games, for a total of nearly 2.4 billion hours played across console, mobile and PC experiences. To put that in context, that’s more than 3,000 years of gameplay every single day. On screens from six inches to 60 inches, for sessions of two minutes to two hours or more, EA continues to deliver outstanding entertainment to players.

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Our global FIFA soccer franchise had a standout quarter as the World Cup drama began to unfold on the pitches in Brazil. More than 53 million matches were played in FIFA Ultimate Team World Cup mode alone, during the quarter. That’s the equivalent of more than 830,000 World Cup tournaments. The World Cup update to FIFA 14 on mobile drove engagement to a franchise record high, and in Korea, FIFA Online 3 had the highest peak concurrent player levels ever for FIFA Online since it was launched in 2006.

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