Electronic Arts have released their Q3 FY18 Financial Results, but the interesting information usually comes in the follow up investor call.

No doubt fueled by the loot crate controversy and the numerous progression adjustments, sales of Star Wars Battlefront II fell short, but at the same time it was also revealed that the loot crates would be returning in the coming months, but remained vague as to in what form by saying, "the teams are working on how that context will apply to the Battlefront universe."

"Net bookings for the quarter were $29 million below our guidance, driven by lower-than-expected sales of Star Wars Battlefront II. For Q3, we had expected to sell in about 8 million units, but we fell short of that by less than 1 million units," said EA CFO Blake Jorgensen.

Anthem was initially expected in 2018, but recent rumors claimed that Bioware's new IP would be getting delayed to 2019. EA CFO Blake Jorgensen did confirm that to investors although stated that it was not so much a delay as a strategic move to give Anthem a less crowded launch period. Instead Electronic Arts confirmed that it will be releasing a new Battlefield game in October 2018.

"The Battlefield universe will grow this year with our next Battlefield title, captivating longtime fans and new players alike, and adding to our Battlefield service where players can move seamlessly with their friends. Our new IP, Anthem, is a stunning project from BioWare that will blend genres with a shared-world experience that evolves around its players. Excitement for Anthem is building, and we’re deeply invested in delivering a great new experience with this game when it launches in Q4 FY19," said EA CEO Andrew Wilson.

"Our DICE studio will deliver the next Battlefield, with innovation at every level, incredible stories at the core, astonishing visuals and gameplay that will captivate every Battlefield fan," he continued.

Electronic Arts Q3 2018 Earning Report

"Players enjoyed hundreds of millions of hours in our games across console, mobile and PC during the holiday quarter, and we're thrilled to see our titles driving excitement for more fans around the world," said Chief Executive Officer Andrew Wilson. "We're expanding the reach of our top franchises across more geographies, our competitions are growing in participation and viewership, and we're continuing to grow our network with more amazing games and content coming this quarter and beyond."

"Our diversity in portfolio, platforms, geographies, and business models is the foundation of a robust business that enables us to deliver dependable cash flow," said Chief Financial Officer Blake Jorgensen. "Through the fourth quarter and fiscal 2019, we'll be launching games across five different genres, on three different platforms, and to players around the world. We expect growth in full-game downloads, subscriptions, extra content, and in our mobile business."

Selected Operating Highlights and Metrics

• Digital net bookings* for the trailing twelve months was a record $3.375 billion, up 18% year-over-year, and represents 67% of total net bookings for the same period.
• The FIFA community grew to nearly 42 million players, on console alone, during the calendar year.
• FIFA Mobile added 26 million players to its total player base in the quarter.
• FIFA Ultimate Team player base grew 12% year-over-year, from launch to the end of the quarter.
• In Star Wars Battlefront II, nearly 70% of players engaged in the single-player campaign.
• Battlefield 1 now has more than 25 million unique players life to date.
• The Sims 4 player base grew more than 35% year-over-year and delivered the highest-performing expansion pack to date during the quarter.
• The Madden Challenge entertainment special on The CW Network was the #1 esports television broadcast in the U.S. for 2017.

* 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.

Selected Financial Highlights and Metrics

All financial measures are presented on a GAAP basis.

• Net cash provided by operating activities was $849 million.
• Net cash provided by operating activities for the trailing twelve months was $1.514 billion.
• During the quarter, EA repurchased 1.4 million shares for $150 million.
• For the trailing twelve months, EA repurchased 5.6 million shares for $578 million.

Quarterly Financial Highlights

While EA no longer reports certain non-GAAP financial measures, the following GAAP-based financial data and a long-term tax rate of 21% are used internally by company management to adjust its GAAP results in order to assess EA's operating results:

EA's GAAP loss per share for the three months ended December 31, 2017 was calculated using the basic share count of 308 million. Had EA reported a profit, the diluted share count would have been 311 million shares.

For more information about the nature of the GAAP-based financial data, please refer to EA's Form 10-Q for the fiscal quarter ended September 30, 2017.

TTM Financial Highlights

While EA no longer reports certain non-GAAP financial measures, the following GAAP-based financial data and a long-term tax rate of 21% are used internally by company management to adjust its GAAP results in order to assess EA's operating results:

For more information about the nature of the GAAP-based financial data, please refer to EA's Form 10-Q for the fiscal quarter ended September 30, 2017.

Operating Metric

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

Business Outlook as of January 30, 2018

The following forward-looking statements reflect expectations as of January 30, 2018. Electronic Arts assumes no obligation to update these statements. Results may be materially different and are affected by many factors detailed in this release and in EA's annual and quarterly SEC filings.

Fiscal Year 2018 Expectations - Ending March 31, 2018

Financial metrics:

• Net revenue is expected to be approximately$5.100 billion.
  • Change in deferred net revenue (online-enabled games) is expected to be approximately $50 million.
• Net income is expected to be approximately $1.015 billion.
• Diluted earnings per share is expected to be approximately$3.25.
  • Includes the net impact of approximately ($0.48) per share due to the application of the Tax Cuts and Jobs Act.
• Operating cash flow is expected to be approximately $1.600 billion.
• The Company estimates a share count of 312 million for purposes of calculating fiscal year 2018 diluted earnings per share.

Operational metric:

• Net bookings is expected to be approximately $5.150 billion.

In addition, the following outlook for GAAP-based financial data and a long-term tax rate of 21% are used internally by EA to adjust our GAAP expectations to assess EA's operating results and plan for future periods:

Fourth Quarter Fiscal Year 2018 Expectations - Ending March 31, 2018

Financial metrics:

• Net revenue is expected to be approximately$1.532 billion.
  • Change in deferred net revenue (online-enabled games) is expected to be approximately ($307) million.
• Net income is expected to be approximately $579 million.
• Diluted earnings per share is expected to be approximately $1.86.
• The Company estimates a share count of 311 million for purposes of calculating fourth quarter fiscal year 2018 diluted earnings per share.

Operational metric:

• Net bookings is expected to be approximately $1.225 billion.

In addition, the following outlook for GAAP-based financial data and a long-term tax rate of 21% are used internally by EA to adjust our GAAP expectations to assess EA's operating results and plan for future periods: