Electronic Arts Spends $64m on Restructuring
Although Electronic Arts increased its revenue and net income in the last financial year, the company also undertook a multi-million dollar restructuring programme again.
Electronic Arts is not dissatisfied with the past financial year. This is stated in the press release issued by the company on the publication of its preliminary Q4 and annual results. "This year, EA delivered bigger, bolder world class entertainment that engaged and connected hundreds of millions of players and fans," said Andrew Wilson, CEO of EA. "We will continue to build on this strong momentum through an incredible pipeline of new experiences, starting with College Football in FY25, positioning us for accelerated growth in FY26 and beyond." And Stuart Canfield added: "EA’s FY24 was highlighted by record cash flow and strong earnings growth driven by EA Sports FC and Madden NFL. With strong conviction in our future, we are announcing an expanded stock repurchase program. We look forward to sharing more about our long-term strategy and financial framework at our Investor Day this fall."