Electronic Arts (EA) FY23 guidance factors in currency headwinds & Russian exit
EA saw headwinds from FX relative to FY22 rates and the company is operating under the assumption that it won't be reentering the Russian/Belarus market.
Electronic Arts (EA) shared its earnings results today for the company’s first fiscal quarter which ended on June 30. Amid the notable nuggets of information included in these reports is one regarding additional Fiscal Year 2023 (FY23) guidance considerations.
Looking over the list of considerations mentioned, some standouts include how EA is entering FY23 from a position of strength, seeing headwinds from FX relative to FY22 rates, and the assumption that the company won’t reenter the Russian/Belarus market given the ongoing war in Ukraine.
In regards to FX currency assumptions specifically, FY23E is looking at 1.05 for USD/EUR in Net Bookings, and other figures such as 1.28 for USD/CAD. Note that DICE headquarters is based out of Sweden and several of EA’s studios are based out of Canada, hence the references to those two currencies in particular.
In the earnings report, CEO Andrew Wilson is also quoted in affirming EA’s strong results in Q1, with future plans including expanding the EA SPORTS portfolio and owned IP franchises.
After running through EA’s earnings report and FY23 guidance factors, we’re eager as always to hear your thoughts. Does anything stand out in particular? Let us know in Chatty! For more spicy finance news, also be sure to check out some of our previous coverage including how AMD’s Q2 2022 earnings results beat revenue expectations.
Morgan Shaver posted a new article, Electronic Arts (EA) FY23 guidance factors in currency headwinds & Russian exit