This could be the last quarterly report Electronic Arts ever publishes. The takeover is reportedly imminent. At first glance, the publisher is posting fantastic numbers—but that’s only part of the story.
EA is known for presenting its financial figures in the best possible light—even when there’s no reason to celebrate. The video game giant’s quarterly reports are often peppered with superlatives. Anything that doesn’t fit the narrative isn’t highlighted. An approach EA apparently remains committed to until the very end.
If the takeover deal with PIF & Co. receives regulatory approval in the current quarter, the report on May 5 could be the last of its kind. At least for the interested public. After that, EA would no longer have to regularly report to investors. Transparency will be lost, and the publisher will vanish into the fog of privatization.
Battlefield 6 sets “various franchise records”
This makes a look at the new report for the past fourth quarter all the more exciting. “Thanks to our talented teams and our consistent execution, we were able to achieve record results in fiscal year 2026,” enthuses CEO Andrew Wilson. The main driver behind this: Battlefield 6 and its “incredibly successful release.”
The latest installment in the first-person shooter series is said to be the “best-performing Battlefield within a fiscal year” and to have “set various franchise records.” Also performing strongly, according to EA: global soccer around EA SPORTS FC and Apex Legends, which posted the best quarter of the fiscal year. So, is everything great in California?
Net bookings are booming, profits are falling
At first glance: yes. In January, February, and March 2026, EA generated net revenue of $2.12 billion. This represents a significant increase compared to the same period in 2025 ($1.895 billion). Annual net revenue also grew from $7.463 billion to $7.531 billion.
Net bookings in 2026 even set a record: $8.026 billion marks a new high. However, looking at the first three quarters and the full-year forecast, a different picture emerges for Q4: The net bookings forecast was estimated at just under $2 billion—and, at $1.864 billion, it fell short.
The analysis of profits is more striking: While EA had posted a profit of more than $1.1 billion in fiscal year 2025, the figure for 2026 was “only” $887 million. Possible reasons include increased production costs or financial expenses related to the planned acquisition.
No market crash—but no enthusiasm either
In some respects, EA has indeed had a record year—in others, not so much. In some cases, not even a good one. The market is reacting accordingly: EA stock fell by two to three percent the day after the quarterly report was released. Since then, the share price has been stabilizing noticeably. No crash—but enthusiasm looks different.
This is also due to the planned acquisition of EA. Major jumps are no longer to be expected anyway, as the acquisition price has already been set at $210. Currently, the shares are trading at just under $201. The market seems to believe in the deal—but not 100 percent. Otherwise, the gap would typically be smaller.
