8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported) August 30, 2018

ELECTRONIC ARTS INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	0-17948	94-2838567
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

209 Redwood Shores Parkway, Redwood City, California 94065-1175

(Address of Principal Executive Offices) (Zip Code)

(650) 628-1500

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02    Result of Operations and Financial Condition.

On August 30, 2018, Electronic Arts Inc. issued a press release announcing an update of its outlook for its operating and financial results for the fiscal year ending March 31, 2019. A copy of the press release is attached hereto as Exhibit 99.1.

Neither the information in this Form 8-K nor the information in the press release attached hereto as Exhibit 99.1 shall be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press release dated August 30, 2018.

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press release dated August 30, 2018.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		ELECTRONIC ARTS INC.
Dated:	August 30, 2018	By:	/s/ Blake Jorgensen
			Blake Jorgensen
			Chief Operating Officer and Chief Financial Officer

EX-99.1

Exhibit 99.1

EA Announces November 20 Launch Date for Battlefield V; Updates Fiscal Year 2019 Expectations

Revised Outlook Driven by New Battlefield V Launch Date, Foreign Exchange Rates, and a Revised Mobile Forecast

REDWOOD CITY, CA - August 30, 2018 - Electronic Arts Inc. (NASDAQ: EA) today announced that it is revising its net bookings outlook for fiscal year 2019, driven by an update to the Battlefield^TMV launch date, the continuing impact of foreign exchange rates, and a revised mobile forecast.

“We believe we’ve got one of the best Battlefield games ever coming in Battlefield V,” said Laura Miele, Chief Studios Officer, Electronic Arts. “Tens of thousands of players have been hands on with the game so far, and we’ve been honored to receive best multiplayer awards at E3 and Gamescom. We’ve had valuable feedback from our community, and we’re going to take the time to make some final adjustments and deliver a great experience for our fans.”

“We’re updating our fiscal year guidance to reflect the updated launch date for Battlefield V, the ongoing impact of foreign exchange rate changes, and our current outlook for our mobile business,” said COO and CFO Blake Jorgensen. “Our core businesses, including FIFA Ultimate Team, are strong, we think our players are going to love Battlefield V, and excitement is building for our new IP, Anthem.”

More details regarding the Battlefield V launch date change are provided by DICE General Manager Oskar Gabrielson in the blog posting at www.ea.com/news.

Business Outlook as of August 30, 2018

Moving the launch of Battlefield V out by four weeks will enable EA to deliver the best possible experience for gamers but will push some net bookings out of fiscal year 2019 and into fiscal year 2020. In addition, EA has revised its expectations for its mobile business. Finally, as discussed on EA’s July 26, 2018 earnings call, foreign exchange rates have moved significantly since EA initially gave fiscal year 2019 guidance in May. EA’s management now considers it prudent to include this impact in EA’s revised guidance.

As a result, EA is updating fiscal year 2019 net bookings guidance from $5.55 billion to $5.20 billion. About $115 million of this change is driven by the movement in foreign exchange rates. However, the same movement in foreign exchange rates also drives operating expenses lower, and this, combined with our hedging program, significantly limits the impact of foreign exchange rates on net income.

While we expect to maintain investments in R&D and marketing, there will be operational savings to operating expenses. EA estimates this to be approximately $50 million, excluding the impact of foreign exchange rates discussed above and stock-based compensation.

Core businesses, including our EA SPORTS^TM games, Ultimate Team^TM, and our deep catalog of games, are expected to continue their strong operational performances.

EA is reaffirming its second quarter operating guidance provided on July 26, 2018.

EA is currently evaluating the impact that these developments will have on EA’s fiscal year GAAP guidance and quarterly phasing of net bookings, and will provide that information on EA’s next earnings call. Actual results may be materially different and can be affected by many factors detailed in this release and in EA’s annual and quarterly SEC filings.

EA will announce its results for the second fiscal quarter ending September 30, 2018 on October 30, 2018 and will host a conference call at 2:00 pm PT (5:00 pm ET) to discuss the results.

Forward-Looking Statements

Some statements set forth in this release, including the information relating to EA’s fiscal year 2019 expectations under the heading “Business Outlook as of August 30, 2018,” contain forward-looking statements that are subject to change. Statements including words such as “anticipate,” “believe,” “estimate” or “expect” and statements in the future tense are forward-looking statements. These forward-looking statements are preliminary estimates and expectations based on current information and are subject to business and economic risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause the Company’s results to differ materially from its expectations include the following: sales of the Company’s titles; the Company’s ability to develop and support digital products and services, including managing online security and privacy; the Company’s ability to manage expenses; the competition in the interactive entertainment industry; the effectiveness of the Company’s sales and marketing programs; timely development and release of Electronic Arts’ products; the Company’s ability to realize the anticipated benefits of acquisitions; the consumer demand for, and the availability of an adequate supply of console hardware units; the Company’s ability to predict consumer preferences among competing platforms; the Company’s ability to develop and implement new technology; foreign currency exchange rate fluctuations; general economic conditions; and other factors described in the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2018.

These forward-looking statements are current as of August 30, 2018. While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that

Electronic Arts ultimately reports.

About Electronic Arts

Electronic Arts (NASDAQ: EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. EA has more than 300 million registered players around the world.

In fiscal year 2018, EA posted GAAP net revenue of $5.15 billion. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality brands such as The Sims™, Madden NFL, EA SPORTS™ FIFA, Battlefield™, Need for Speed™, Dragon Age™ and Plants vs. Zombies™. More information about EA is available at www.ea.com/news.

EA SPORTS, Ultimate Team, Battlefield, The Sims, Need for Speed, Dragon Age, and Plants vs. Zombies are trademarks of Electronic Arts Inc. NBA, UFC, NHL, and FIFA are the property of their respective owner and used with permission.

For additional information, please contact:

Chris Evenden

Vice President, Investor Relations

650-628-0255

cevenden@ea.com

or

John Reseburg

Vice President, Corporate Communications

650-628-3601

jreseburg@ea.com