Electronic Arts reported preliminary financial results for its second fiscal quarter ended September 30, 2025. Bookings were $1.82 billion, down 13% from a year ago, when EA benefited from the first release of EA Sports College Football 25.
Meanwhile, net income was higher than analysts expected. EA noted that EA Sports Madden NFL and Apex Legends saw net bookings growth on a year-over-year basis. And EA’s big release of the fall, Battlefield 6, debuted after the end of the quarter — and hit seven million copies sold in its first three days starting October 10. Skate also performed well in early access.
While the bookings are light, EA could argue the earnings are higher and the quarter in general was in line with expectations. And the figures don’t include Battlefield 6 numbers at all.
“Across our broad portfolio — from EA Sports to Battlefield, The Sims, and Skate — our teams continue to create high-quality experiences that connect and inspire players around the world,” said Andrew Wilson, CEO of Electronic Arts, in a statement. “The creativity, passion, and innovation of our teams are at the heart of everything we do.”
Since EA is in the process of being acquired for $55 billion by Saudi Arabia’s Public Investment Fund and private equity and debt firms, EA isn’t have a quarterly analyst call, nor is it providing much more detail in prepared remarks from Wilson. EA’s stock price has been hovering around $200 billion a share, or $49.9 billion in total value.
EA said net bookings for the quarter totaled $1.818 billion, down 13% year-over-year, driven largely by the extraordinary release of College Football 25 in the prior year period.
EA Sports Madden NFL 26 delivered net bookings growth year-over-year in the quarter, with players returning to the title.
Apex Legends returned to net bookings growth on a year-over-year basis in Q2, growing double digits, as the team continues to deliver new experiences that drove deeper engagement.
EA Sports FC 26 HD net bookings were up mid single digits year-over-year versus EA Sports FC 25 HD net bookings in the quarter, after adjusting for differences in deluxe edition content timing.
EA said the successful launches of Skate and Battlefield 6 underscored the strength of EA’s long-term strategy to build community-driven experiences centered on creativity, connection, and long-term growth. Battlefield 6’s Season 1 is launching today, with the surprise (but leaked) shadow drop of battle royale mode.
Net revenue was $1.839 billion for the quarter. Net cash provided by operating activities was $130 million for the quarter and $1.872 billion for the trailing twelve months.
EA repurchased 2.3 million shares for $375 million during the quarter, bringing the total for the trailing twelve months to 17.5 million shares for $2.500 billion.
The Saudi Arabia Public Investment Fund, which owns 10% of EA already, led the deal. The Saudis have set aside $37 billion in invest in games and have already built a gaming financial empire through Savvy Games Group. The Saudis have turend to games and esports to diversify away from a dependence on oil. Other investors include Silver Lake and Affinity Partners.
The price includes an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.