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Segment and Revenue Information
6 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment and Revenue Information SEGMENT AND REVENUE INFORMATION
Our reporting segment is based upon: our internal organizational structure; the manner in which our operations are managed; the criteria used by our Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations. As of September 30, 2025, we have one reportable segment, which represents our only operating segment. Our CODM makes decisions on resource allocation and assesses performance of the business based on our consolidated results, including net income.
The measure of segment assets are reported on the Condensed Consolidated Balance Sheets as total assets.

Information about our single reportable segment net revenue, net income, and significant segment expenses for the three and six months ended September 30, 2025 and 2024 is presented below (in millions):
Three Months Ended
September 30,
Six Months Ended
September 30,
2025202420252024
Net revenue$1,839 $2,025 $3,510 $3,685 
Less:
Cost of revenue (1)
431 442 697 691 
Research and development (1)
563 526 1,159 1,054 
Marketing and sales (1)
289 256 491 449 
General and administrative (1)
156 164 313 314 
Amortization and impairment of intangibles26 27 53 54 
Restructuring and related charges— 52 — 58 
Stock-based compensation174 174 326 317 
Interest and other (income) expenses, net(15)(45)
Provision for income taxes60 105 132 219 
Net income$137 $294 $338 $574 
(1) Excludes amounts related to amortization and impairment of intangibles, restructuring and related charges, and stock-based compensation, which are presented separately in the table above.

Information about our total net revenue by timing of recognition for the three and six months ended September 30, 2025 and 2024 is presented below (in millions):
Three Months Ended
September 30,
Six Months Ended
September 30,
2025202420252024
Net revenue by timing of recognition
Revenue recognized at a point in time$808 $918 $1,250 $1,289 
Revenue recognized over time1,031 1,107 2,260 2,396 
Net revenue$1,839 $2,025 $3,510 $3,685 
Generally, performance obligations that are recognized upfront upon transfer of control are classified as revenue recognized at a point in time, while performance obligations that are recognized over either the period in which we offer to provide future update rights and/or online hosting for the game and related extra content sold (“Estimated Offering Period”), contractual term or subscription period as the services are provided are classified as revenue recognized over time.
Revenue recognized at a point in time includes revenue allocated to the software license performance obligation. This also includes a portion of revenue from the licensing of software to third-parties.
Revenue recognized over time includes service revenue allocated to the future update rights and the online hosting performance obligations. This also includes sales of extra content associated with our online-hosted services such as our Ultimate Team game mode, revenue allocated to the future update rights from licensing of software to third-parties, subscription services, and revenue recognized from third parties that publish games and services under a license to certain of our intellectual property assets.
Information about our total net revenue by composition for the three and six months ended September 30, 2025 and 2024 is presented below (in millions):
Three Months Ended
September 30,
Six Months Ended
September 30,
2025202420252024
Net revenue by composition
Full game downloads$401 $475 $634 $665 
Packaged goods217 241 273 301 
Full game618 716 907 966 
Live services and other
1,221 1,309 2,603 2,719 
Net revenue$1,839 $2,025 $3,510 $3,685 
Full game net revenue includes full game downloads and packaged goods. Full game downloads primarily include revenue from digital sales of full games on console, PC, and certain licensing revenue. Packaged goods primarily include revenue from full games that are sold physically through distribution arrangements, mass market retailers, and specialty stores.
Live services and other net revenue primarily includes revenue from sales of extra content for console, PC, and mobile games, certain licensing revenue, subscriptions, and advertising.
Information about our total net revenue by platform for the three and six months ended September 30, 2025 and 2024 is presented below (in millions):
Three Months Ended
September 30,
Six Months Ended
September 30,
 2025202420252024
Platform net revenue
Console$1,212 $1,374 $2,219 $2,379 
PC and other352 364 726 729 
Mobile275 287 565 577 
Net revenue$1,839 $2,025 $3,510 $3,685 
Information about our operations in North America and internationally for the three and six months ended September 30, 2025 and 2024 is presented below (in millions):
Three Months Ended
September 30,
Six Months Ended
September 30,
 2025202420252024
Net revenue from unaffiliated customers
North America$770 $899 $1,412 $1,515 
International1,069 1,126 2,098 2,170 
Net revenue$1,839 $2,025 $3,510 $3,685