Electronic Arts Inc.

Good afternoon. My name is Brianna and I will be your conference operator today. At this time, I would like to welcome everyone to the Electronic Arts Third Quarter Fiscal Year 2024 Earnings Conference Call. I would now like to turn the conference over to Ms. Katie Burke, Director, Investor Relations. Please go ahead.

Thank you. Welcome to EA's Third Quarter Fiscal Year 2024 Earnings Call. With me today are Andrew Wilson, our CEO, and Stuart Canfield, our CFO. Please note that our SEC filings and our earning release are available at ir.ea.com. In addition, we have posted detailed earning 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. With regards to our calendar, Our fourth quarter fiscal year 2024 earnings call is scheduled for Tuesday, May 7th. As a reminder, we post the schedule of upcoming earnings calls for the fiscal year 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 10-Q 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, January 30, 2024, and disclaims 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. Please see our earnings slides for further information. 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, Katie. It was a strong Q3 as we continue to entertain hundreds of millions of players and fans around the world. Our exceptional teams created high-quality games and experiences across our broad portfolio that drove deep engagement and record live services. This quarter, two of the world's most celebrated interactive entertainment experiences, EA Sports FC and EA Sports Madden NFL, delivered phenomenal strength as sizable drivers of long-term growth. We are launching amazing games and experiences that entertain massive online communities, create blockbuster interactive storytelling, and harness the power of community in and around our games. EA's Q3 results are a great example of our execution across our strategy. The FC platform is thriving at the center of the action, fandom, and culture of the world's game. The launch of EA Sports FC24 has been a great success and has once again outperformed our expectations. Players are connecting, competing, and celebrating global football with their friends, driving strong engagement across FC's multi-experience ecosystem. In Q3, players dove into Ultimate Team, driving double-digit net bookings growth and delivering the franchise's biggest net bookings week ever. FC Mobile also generated deep engagement with daily active users up by 29% year-over-year, while FC Online grew new players by 20% year-over-year. In calendar 2023, Madden NFL was the best-selling sports game in North America and continues to grow. Madden NFL 24 is engaging more players year over year through new, innovative gameplay features and compelling live services. In Q3, net bookings grew and engagement with Ultimate Team increased 19%. Madden Mobile also saw an increase in players during the quarter, generating double-digit growth across the community. Our business is gaining momentum as our communities continue to grow and the definition of play rapidly expands to include watching gameplay, creating user-generated content, and connecting with friends and families in and around beloved IP. There are billions of players around the world, and this number is expected to increase as younger generations choose gaming as their number one form of entertainment, generating incredible opportunities for us to engage and deliver new experiences. The evolving world's unfolding stories and rich characters of our live services are deepening players' relationship with our IP and broadening the global appeal of our portfolio. To further entertain our communities, we are building more ways for them to play, watch, create, and connect to generate growth and longevity in our biggest franchises. The Sims franchise is the definitive life simulation experience, offering its multi-generational community incredible ways to connect, create, and express their individuality. During calendar 2023, players have spent an astounding 1.8 billion hours in The Sims 4, a nearly 30% increase from the prior year. We remain committed to the global growth and innovation of this franchise. We're focused on delivering what the community wants most, from ongoing new content and game modes for The Sims 4 to the social innovation expansion and connection in our future Sims release. Millions of passionate fans continue to come together through the non-stop action of Battlefield. The Battlefield 2042 community continues to grow with total players up 70% year-over-year and Season 6 live services driving strong engagement with weekly average users up 37% year-over-year. Our team is working hard to deliver for the community with increasingly engaging live services, like the recent announcement of Season 7 with new maps, weekly missions, and much more. In addition, we are making investments in the future of the franchise. Our exceptional teams from multiple world-class studios working with cutting-edge Frostbite technology are building an expansive community-focused battlefield universe for fans all over the world. As a category leader with millions of loyal fans, we are looking forward to celebrating the fifth anniversary of Apex Legends. Over the past few months, we have listened closely to our community and have deployed new features, new styles of play, and new content. We have also implemented tools to better understand day-to-day game performance. In Q3, our new modes drove improved engagement and the early impact of our new content in the current quarter is promising. To generate future growth, we have focused on entertaining core players and engaging new players by investing in geographic expansion, innovating in the game economy, and making it easier than ever for players to jump into our gameplay. Turning to FY25, we will deliver even more excitement and entertainment through an expanded portfolio of connected ecosystems. Industry leader EA Sports will launch a strong core slate of titles and always-on live services to grow our sports business as a global community and drive value year after year. Our journey building FC, the world's largest interactive platform for global football fans, will continue with accelerated gameplay innovation, more social connection, and new brand collaborations to deliver even more value for players. Our teams working with an incredible roster of partners are just getting started with FC. We are well positioned to grow this platform as a cultural phenomenon. The momentum in Madden NFL will continue with events and experiences tied to the biggest moments in the sport alongside deeper investments in this ecosystem, including leaps in gameplay and deeper fan immersion. In addition to the meaningful advancements in Madden, we are bringing back fan favorite EA Sports College football for the first time in over a decade. Looking further ahead, as more people spend more time playing and connecting in and around our titles, we see incredible potential for growth. Within our online communities, we are expanding blockbuster storytelling, through deep, rich characters and new story modes to deliver bigger, broader games and live services. Connected experiences offer new cutting-edge ways to engage and inspire players and can unlock future innovative growth opportunities. Over the coming years, we expect accelerated growth in our business. Our long-term outlook, coupled with secular tailwinds, drives further conviction in our strategy. By aligning our priorities and investments with our greatest opportunities, we can make the biggest impact and drive long-term value in service of our people, our players, and our shareholders. Now, I'll hand the call over to Stuart to provide additional details on our business.