Electronic Arts Inc. (NASDAQ:EA) Q1 2021 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


Electronic Arts Inc. (NASDAQ:EA) Q1 2021 Earnings Conference Call - Final Transcript


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Good afternoon. My name is Daphne, and I will be your conference operator today. At this time, I would like to welcome everyone to the Electronic Arts Q1 2021 Earnings Conference Call.

Mr. Chris Evenden, VP of Investor Relations, you may begin your conference.

Chris Evenden

Thanks, Daphne. Welcome to EA's First Quarter Fiscal 2021 Earnings Call. With me from their homes today are Andrew Wilson, our CEO; and Blake Jorgensen, our CFO and COO. Please note that our SEC filings and our earnings release are available at ir.ea.com. In addition, we've posted earnings slides to accompany our prepared remarks. Lastly, after the call, we will post our prepared remarks, an audio replay of this call, our financial model and a transcript.

With regards to our calendar, our Annual Shareholder Meeting will take place next week on Thursday, August 6, and will be a virtual audio-only meeting due to the ongoing health concerns and physical distance requirements related to the COVID-19 pandemic. Our Q2 fiscal 2021 earnings call is scheduled for Thursday, November 5.

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-K for a discussion of risks that could cause material -- actual results to differ materially from those discussed today. Electronic Arts makes these statements as of today, July 30, 2020, 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. 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.

Andrew Wilson

Thanks, Chris. First off, I hope that all of you listening today are well and that you and your families are in good health. This is an unprecedented time, and it was an unprecedented first quarter for our business at Electronic Arts, with extraordinary growth in our games and live services and record financial performance. I'll speak to both of those in a moment, but first let me touch on our efforts to continue supporting our teams through the evolving COVID-19 situation.

I'm incredibly proud of our amazing teams at Electronic Arts. The ingenuity, creativity, and determination of all of our talented people is making it possible for us to continue delivering all the great games and content to players, even as almost all of us continue to work from home. The wellbeing of our people is our top priority, and to keep everyone as safe as possible, the vast majority of us at EA will be working from home at least through the remainder of the calendar year.

These are challenging times for everyone managing through the pandemic's effect on their personal and professional lives. We're helping however we can with support and resources, including quarterly payments to assist our people with work-from-home costs