Electronic Arts Inc.

Good afternoon. My name is Charlie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Electronic Arts Fourth Quarter 2022 Earnings Conference Call. Mr. Chris Edmonton, Vice President, Investor Relations, you may begin your conference.

Thank you, Operator. Welcome to EA's Fourth Quarter Fiscal 2022 Earnings Call. With me today are Andrew Wilson, our CEO, and Chris, our CFO. 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, a financial model, and a transcript. With regards to our calendar, our Q1 fiscal 2023 earnings call is scheduled for Tuesday, August 2nd. And as a reminder, we post the schedule of our entire year of coming earnings calls on our IR website. 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. We refer you to our most recent form 10Q for a discussion of risks that could cause actual results to differ materially from those discussed today. Electronic Arts makes these statements as of today, May 10, 2022, and explains any duty to update them. During this call, the financial metrics, with the exception of free cash flow, will be presented on a GAAP basis. 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. Thanks, Chris. I hope all of you are well.

I want to start by thanking our incredible teams at Electronic Arts. We have the most talented people in the industry who, every day, demonstrate passion, creativity, and determination. I'd also like to extend a warm welcome to Chris Sutt. Chris joined us in March as our new Chief Financial Officer. He's an exceptionally qualified leader, and I'm looking forward to our partnership as we drive our next phase of growth. EA delivered profitable growth in FY22, a record year in every important measure of our business. Total players, engagement in our games and live services, net bookings, and underlying profit. We grew our global network of players to more than 580 million unique active accounts, fueled by new players joining titles including EA Sports FIFA, Apex Legends, and The Sims, and new players that we welcomed from our acquisitions. The strength of our broad IP portfolio, our creative talent, together with highly recurring revenue streams, continues to supercharge growth in our business. We delivered $7.515 billion in net bookings, and the underlying profit grew more than 20%. It was a record year, and our talented teams rose to the challenge in a big way to inspire and entertain hundreds of millions of engaged players worldwide. Games are now central to people's lives, and younger audiences have more power as consumers. Gen Alpha, Gen Z, and Millennials are digital natives, and they are gaming first generations. They see gaming as their number one choice for entertainment. The consumption of entertainment and sport is deeply social, with players across our network using games to stay connected to friends and to express themselves. The future of entertainment is interactive, and we derive strength from three structural advantages. Our IP, our incredible talent, and our growing network of players deeply engage in our live services. First, our IP. Everything begins with amazing games, and we continue to invest in one of the most powerful IP portfolios in all of entertainment. Apex Legends will expand in every dimension, going from strength to strength. New gameplay is coming to the console and PC live service, a new mobile service launches globally this month, and the grand finale of the 2022 Apex Legends Global Series for esports is in July. EA Sports and Racing are set to grow significantly in FY23. We have six new EA Sports titles this year with more in development. Our pipeline for this year and future years features big, beloved IP that we cannot wait for players to experience, including Need for Speed, Dead Space, Star Wars, The Sims, Skate, our Bioware franchises, and Lord of the Rings. Our two new studios in Seattle are working on new projects. Our modern studio has an unannounced title in development, and we have more underway across our global studio teams. Next, we have the best talent in the world. Making amazing games starts with incredible game makers. Innovating across our business, our people make electronic arts a great place to work, from delivering safe and secure platforms to telling exciting stories and developing our next generation of creators. We have a collective team of leaders who together deliver one of the broadest portfolios in the industry every year while continuing to pioneer new experiences. We are proud of our distinctive talent from across the many parts of EA for continuing to deliver more exceptional games and content at scale. Finally, we have a large growing network of players deeply engaged in our live services. To provide a sense of scale, we have more daily, weekly, and monthly active players across our entire portfolio. FIFA Mobile recorded its biggest quarter ever, with unique new players surging nearly 80% year over year. And Apex Legends is amongst the top live service games in the industry. As we look ahead, we're investing in ways for fans to have amazing shared experiences together, whether that's by playing, watching, or creating. through our console, PC, and mobile life services, through esports, through other original content, and with the tools that unleash the creativity of our players, we will grow what are already some of the world's largest and most engaged entertainment communities. Earlier today, we announced that starting next fiscal year, our football experiences will move under a new EA Sports FC brand. This is such an exciting moment for us and for our fans. We've just had our biggest year ever for EA Sports FIFA games, building on nearly 30 years of connected experiences for players across more than 150 million unique accounts. With more than 300 licensed partners, 30 leagues and federations, 700 teams and 19,000 athletes, The future of global football is huge. We're excited to grow EA Sports FC. It will be the only place that fans can play in the UEFA Champions League, CONMEBOL Libertadores, the Premier League, Bundesliga, Serie A, La Liga, MLS, and many others. Our global football franchise has long been at the forefront of innovation. From the first isometric play angles to online play, ultimate team and women's teams, the first narrative story mode with The Journey, to Volta, to Hypermotion. We have repeatedly delivered new ways to play the game. We're thankful for the many great years of partnership with FIFA, and we are looking forward to delivering another full EA Sports FIFA game later this year, filled with great features and World Cup content. Then, the new era begins next year with EA Sports FC, With a total addressable market of more than 3.5 billion football and soccer fans worldwide, EA Sports FC will be the authentic, inclusive and immersive global entertainment property at the epicentre of football fandom. We have amazing games. We've built around powerful IP made by incredibly talented teams. We have a network of more than half a billion player accounts. We have outstanding engagement in our games and live services fueled by social connection and shared experiences. With these strengths at our core, FY23 is set to be a year of innovation, growth, and leadership for electronic arts. Now I'll hand the call over to Chris.