美商藝電 (EA) 2021 Q2 法說會逐字稿

Good afternoon. My name is Jason, and I will be your conference operator today. At this time, I would like to welcome everyone to the Electronic Arts Q2 2021 Earnings Conference Call. Mr. Chris Evenden, Vice President of Investor Relations. You may begin your conference.

午安.我是Jason，今天將擔任本次電話會議的接線生。現在，我謹代表藝電（Electronic Arts）歡迎各位參加2021財年第二季財報電話會議。接下來請投資人關係副總裁Chris Evenden先生發言，會議可以開始了。

Thanks, Jason. Welcome to EA's Second 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 adding slides to accompany our prepared remarks. Lastly, after the call, we will post our prepared remarks and audio replay of this call, our financial model and a transcript.

謝謝，Jason。歡迎參加EA 2021財年第二季財報電話會議。今天與我一起在家參加會議的有我們的執行長Andrew Wilson，以及財務長兼營運長Blake Jorgensen。請注意，我們的美國證券交易委員會（SEC）文件和財報可在ir.ea.com上查閱。此外，我們也發布了補充幻燈片，以配合我們準備好的演講稿。最後，會議結束後，我們將發布我們準備好的演講稿、本次會議的錄音回放、財務模型和會議記錄。

Now that we completely revamped the earnings slides this quarter, they now contain all of the metrics and color that we historically have included in Blake's remarks. These changes free up time on the call for more analysis from Blake and Andrew, and provide more opportunity for questions from you. Please let me have your feedback on this change.

本季我們對收益簡報進行了全面更新，現在包含了以往Blake發言中才會用到的所有指標和圖表資訊。這些改動讓Blake和Andrew在電話會議上有更多時間進行分析，也為各位提問提供了更多機會。請您就此改動提出寶貴意見。

With regards to our calendar, our Q3 fiscal 2021 earnings call is scheduled for Tuesday, February 2. As a reminder, we post our entire year of earnings calls on our IR website. This presentation and comments -- 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-Q for a discussion of risks that could cause actual results to differ materially from those discussed today. Electronic Arts makes these statements as of today, November 5, 2020, and disclaims any duty to update them.

關於我們的日程安排，2021財年第三季財報電話會議定於2月2日（星期二）舉行。提醒各位，我們會在投資者關係網站上發布全年的財報電話會議安排。本次簡報及相關評論－以及我們的評論－包含有關未來事件和公司未來財務表現的前瞻性陳述。實際事件和結果可能與我們的預期有重大差異。請參閱我們最新的10-Q表格，以了解可能導致實際結果與今天討論的結果有重大差異的風險。藝電（Electronic Arts）於2020年11月5日發布上述聲明，並聲明不承擔更新這些聲明的義務。

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.

本次電話會議中，除自由現金流外，所有財務指標均以美國通用會計準則（GAAP）列示。除非另有說明，本次電話會議中的所有比較均與去年同期進行比較。現在我將把電話會議交給安德魯。

Thanks, Chris. I hope this find everyone well and staying healthy amidst the ongoing pandemic. After the biggest first quarter in the history of Electronic Arts, our second quarter of FY '21 showed continued strength with net revenue and earnings above our guidance. We are driving growth through the breadth, depth and quality of our new games, our industry-leading live services and expansion to more platforms and more ways to play. Let me first say how thankful I am to our teams for their incredible work and everything they are delivering for our players. The well-being of our people remains our top priority. Even amidst these unprecedented circumstances, we are executing and building great strength across our business.

謝謝克里斯。希望大家一切安好，在疫情持續蔓延的當下，都能保持健康。在藝電史上業績最佳的第一季之後，2021財年第二季我們持續保持強勁勢頭，淨收入和利潤都超乎預期。我們正透過豐富、深入且高品質的新遊戲、業界領先的線上服務以及向更多平台和更多遊戲方式的拓展來推動成長。首先，我要衷心感謝我們的團隊，感謝他們為玩家所做的一切，以及他們所付出的卓越努力。員工的福祉始終是我們的首要任務。即使在當前前所未有的情況下，我們依然能夠高效運轉，並在各個業務領域保持強大的實力。

Here are a few key examples. We delivered 8 new games so far this year, and our network has grown to more than 330 million unique accounts as tens of millions of new players have joined to enjoy more of our amazing games and content. EA SPORTS continues to be a leader in sports interactive entertainment. Madden NFL 20 was the most successful game in franchise history last year and now Madden NFL 21 already has nearly 30% more players year-over-year from launch.

以下是一些關鍵範例。今年迄今為止，我們已推出 8 款新遊戲，我們的網路已發展到超過 3.3 億個獨立帳戶，數千萬新玩家加入我們，享受更多精彩遊戲和內容。 EA SPORTS 將繼續引領體育互動娛樂領域。 《Madden NFL 20》是該系列去年最成功的遊戲，而《Madden NFL 21》自發性售以來，玩家數量已同比增長近 30%。

Our FIFA franchise is engaging more than 100 million players globally. Even prior to launching FIFA 21, our FIFA franchise is having the biggest calendar year ever with our business across all platforms, up 26% year-over-year in net bookings. FIFA 20 has reached nearly 35 million players on console and PC. FIFA Mobile continues to perform well and FIFA Online Asia broke engagement records across China and Korea in Q2. We just launched FIFA Mobile in Japan in October as we continue to see significant international expansion opportunities for our FIFA franchise.

我們的FIFA系列遊戲在全球擁有超過1億玩家。即使在FIFA 21發布之前，FIFA系列遊戲也已迎來史上最輝煌的年度業績，所有平台淨預訂量年增26%。 FIFA 20在主機和PC平台的玩家數量已接近3,500萬。 FIFA Mobile持續表現良好，FIFA Online Asia在第二季度於中國和韓國創下了用戶參與度新紀錄。我們於10月在日本推出了FIFA Mobile，因為我們持續看到FIFA系列遊戲在國際市場的巨大發展潛力。

We continue to have an outstanding relationship with Disney and Lucasfilms. Star Wars: Squadrons launched a great feedback from critics and the community and has performed above our expectations. This is clearly a special game for fans and continues the extraordinary success we've had bringing great games to life with this IP, including Star Wars Jedi: Fallen Order, Star Wars: Galaxy of Heroes, Star Wars: The Old Republic and the Star Wars Battlefront franchise.

我們與迪士尼和盧卡斯影業一直保持著良好的合作關係。 《星際大戰：戰機中隊》一推出便獲得了評論界和玩家社群的一致好評，其表現遠超預期。對於星戰粉絲而言，這無疑是一款意義非凡的遊戲，也延續了我們利用這一IP打造優秀遊戲的輝煌成就，此前我們已成功推出過《星球大戰絕地：隕落的武士團》、《星球大戰：銀河英雄傳》、《星球大戰：舊共和國》以及《星球大戰：前線》系列等佳作。

Our live services are among the most successful in the industry, and our live services net bookings have grown more than 28% fiscal year-over-year to date. EA SPORTS ultimate team has more than 30 million players so far this year, up 25% year-over-year. Around the world, our multi-platform Sims community continues to grow, and our Sims 4 player base on PC and console is now the largest in franchise history.

我們的線上服務在業界名列前茅，截至目前，線上服務淨預訂量年增超過 28%。 EA SPORTS Ultimate Team 今年至今擁有超過 3,000 萬名玩家，較去年同期成長 25%。在全球範圍內，我們的多平台《模擬市民》社群持續壯大，《模擬市民 4》在 PC 和主機平台的玩家數量已創下該系列歷史新高。

Apex Legends has established itself as a top global franchise with major year-over-year growth and continued expansion opportunities. Apex in Asia is having great success with each season of content. We've just launched a game to massive Steam community and cross play is now live, making it easier for people to play with friends around the world.

《Apex英雄》已躋身全球頂級遊戲系列之列，實現了顯著的年增長率，並擁有持續的擴張潛力。 《Apex英雄》在亞洲市場也取得了巨大成功，每個賽季的內容更新都廣受好評。我們剛剛為龐大的Steam社群推出了新遊戲，並且跨平台聯機功能現已上線，讓玩家可以更輕鬆地與世界各地的朋友一起遊戲。

Our esports programs are scaling the new records in viewership also. Our new Madden NFL episodic content featuring NFL athletes, celebrities and top Madden NFL players is bringing great entertainment to a much wider audience. And our recent FIFA 21 challenge, which paired esports stars with celebrity soccer players was our most watch esports event to date with viewership that place it amongst top esports broadcast worldwide.

我們的電競節目收視率也屢創新高。我們全新的《麥登橄欖球》系列節目，邀請了NFL運動員、名人以及頂尖的《麥登橄欖球》玩家參與，為更廣泛的觀眾群帶來了精彩紛呈的娛樂體驗。而我們近期舉辦的FIFA 21挑戰賽，更是將電競明星​​與足球明星巧妙結合，成為迄今收視率最高的電競賽事，其收視率也躋身全球頂級電競直播之列。

Our EA PLAY service is the most successful multi-platform subscription in the industry. With the addition of our subscription on PS4 and Steam, we've reached more than 6.5 million paid subscribers. EA PLAY is now set to go live on Microsoft Game Pass in a few days, and we believe we have the opportunity to double our subscriber base over the next 12 months.

我們的 EA PLAY 服務是業界最成功的跨平台訂閱服務。隨著 PS4 和 Steam 平台訂閱服務的加入，我們的付費用戶已超過 650 萬人。 EA PLAY 即將於數日後登陸 Microsoft Game Pass，我們相信未來 12 個月內，我們的用戶數量預計將翻一番。

In addition to our subscription, we launched more than 125 games and content packs on Steam this year, with new tiles like C&C Remastered and Star Wars: Squadrons leading the download chat on the platform. Bringing our games to Steam is a new and additive business for us. With the EA and Steam communities able to play together, we're able to harness the full opportunity in the PC space as it continues to show strong growth. We continue to lead the industry as the only developer and publisher with the ability to bring this much quality content to players. We've done this through unprecedented circumstances in the last 6 months, and now we're delivering more great experiences in our current quarter.

除了訂閱服務之外，我們今年還在Steam平台推出了超過125款遊戲和內容包，其中《命令與征服：重製版》和《星際大戰：戰機中隊》等新作更是領先平台下載榜。將我們的遊戲帶到Steam平台對我們來說是一項全新的、極具價值的業務。 EA和Steam社群的玩家可以攜手共進，這讓我們能夠充分掌握PC市場持續強勁成長帶來的機會。作為唯一一家能夠為玩家提供如此豐富優質內容的開發者和發行商，我們始終引領業界。過去六個月，我們克服了前所未有的挑戰，取得瞭如此成就，而現在，我們將在本季繼續為玩家帶來更多精彩體驗。

We started our third quarter by launching 2 new EA SPORTS games. When it went live globally on October 9, FIFA 21 already had a record number of players in the game through the early access benefit of our subscription. Our player metrics in FIFA 21 are strong, and FIFA Ultimate Team also continues to grow with matches in the mode up 30% year-over-year.

第三季開始，我們推出了兩款全新的EA SPORTS遊戲。 10月9日，《FIFA 21》全球上線，憑藉訂閱用戶的提前體驗權益，遊戲內玩家數已創下歷史新高。我們在《FIFA 21》的玩家數據表現強勁，《FIFA Ultimate Team》模式也持續成長，比賽場次較去年同期成長30%。

NHL 21, which includes the fan favorite NHL 94 Rewind has quickly become the most successful NHL game yet on current gen consoles.

包含深受粉絲喜愛的 NHL 94 重製版的 NHL 21 已迅速成為當前世代主機上最成功的 NHL 遊戲。

The Sims 4 and Apex Legends show how we build great live services into strong ongoing businesses. This quarter, we'll launch our tenth expansion pack for the Sims 4, along with an important game update to add even more cultural customization options for our players. On the heels of our highly successful Season 6 we've just launched Season 7 in Apex Legends, which is said to be our biggest season of content this year. We now have more than 20 top live services across console, PC and mobile, forming a foundation for continued growth.

《模擬市民4》和《Apex英雄》展現了我們如何將優秀的線上服務打造為穩健的持續業務。本季度，我們將推出《模擬市民4》的第十個擴充包，以及一項重要的遊戲更新，為玩家增加更多文化自訂選項。繼大獲成功的第六季之後，《Apex英雄》第七季也已上線，據稱這將是今年最豐富的賽季。目前，我們在主機、PC和行動平台擁有超過20款頂級線上服務，為未來的持續成長奠定了堅實的基礎。

We will continue to reach more players across more platforms in Q3. We have more titles launching on Switch and Google Stadia this quarter. Medal of Honor: Above and Beyond will launch on Oculus VR in December, our second VR experience this year. And as I mentioned before, we will take another step in our subscription strategy this week with our expansion to Microsoft Game Pass, opening significant new opportunities to grow our subscriber base.

第三季度，我們將繼續在更多平台上觸達更多玩家。本季度，我們將有更多遊戲登陸Switch和Google Stadia平台。 《榮譽勳章：超越巔峰》將於12月登陸Oculus VR，這將是我們今年推出的第二款VR遊戲。正如我之前提到的，本週我們將透過加入Microsoft Game Pass，進一步完善我們的訂閱策略，這將為我們拓展用戶群帶來更多機會。

This quarter also brings the launch of next-generation consoles from our partners at Microsoft and Sony. EA SPORTS is always at the center of innovation for us, and it will lead the way on next-gen consoles. FIFA 21 for PS5 and Xbox Series X will leverage the major upgrading technology to bring players unprecedented immersion, innovative gameplay and minimal load times to put them into the action in under 2 seconds. Madden NFL 21 for the next-gen consoles will blur the lines of sport even further through a new system that is responsive to the way NFL players perform in the real world. We're excited to have an opportunity to bring even more players into our FIFA and Madden franchises this year, and we're providing a smooth transition for players on current gen consoles to move over with the next-gen upgrade.

本季，我們的合作夥伴微軟和索尼也將推出次世代主機。 EA SPORTS始終是我們創新的核心，並將引領次世代主機的發展。 PS5和Xbox Series X版的《FIFA 21》將充分利用重大升級技術，為玩家帶來前所未有的沉浸式體驗、創新的遊戲玩法以及極短的加載時間，讓玩家在2秒內即可投入比賽。次世代主機版的《Madden NFL 21》將透過一套能夠響應NFL球員在現實世界中表現的全新系統，進一步模糊體育與現實的界限。我們很高興今年有機會吸引更多玩家加入我們的FIFA和Madden系列遊戲，同時我們也為當前世代主機玩家提供了流暢的升級體驗。

Looking ahead, I want to offer a few thoughts on our growth drivers for FY '22 and beyond. Each previous console generation has grown in the global market, and we expect this transition will be the same. We plan to launch at least 6 new games on the next-gen consoles in FY '22. These will include a new Need for Speed game that is bringing some astounding visual leaps developed by the Criterion team who have launched some of the most highly rated games in franchise history.

展望未來，我想就2022財年及以後的成長驅動因素談談我的看法。以往每一代主機都在全球市場取得了成長，我們預計這一代主機也將如此。我們計劃在2022財年至少在新一代主機上推出6款新遊戲。其中包括一款全新的《極速快感》遊戲，這款遊戲由Criterion團隊開發，他們將帶來令人驚嘆的視覺效果飛躍。 Criterion團隊曾經打造過該系列歷史上一些最受好評的作品。

DICE is creating our next Battlefield game with never before seen scale. The technical advancements of the new consoles are allowing the team to deliver a true next-gen vision for the franchise. We have hands on play testing underway internally, and the team has been getting very positive feedback on the game as we've begun to engage our community. The next Battlefield is set to launch in holiday 2021, we're excited to share a lot more about the game in the spring.

DICE正在打造我們下一款規模空前的《戰地》遊戲。新一代主機的強大技術讓團隊能夠為該系列帶來真正的次世代體驗。我們內部正在進行試玩，並且在與玩家社群互動的過程中，也收到了許多正面的回饋。下一款《戰地》遊戲預計將於2021年假期季發售，我們期待在春季與大家分享更多遊戲資訊。

Our live services are positioned to be a long-term growth driver. Having built Apex Legends into an amazing live service with a deeply engaged community, the talented Respawn team in Los Angeles has expanded Apex development to include a full team in our Vancouver location, so that we can continue delivering more great content. Japan is now our second largest market for Apex Legends, and we have strong plans to continue growth in that region. In addition, Apex mobile development will be complete in the new year and ready for launch in FY '22.

我們的線上服務旨在成為長期成長的驅動力。 Respawn洛杉磯團隊憑藉其卓越的線上服務，打造了《Apex英雄》和高度活躍的玩家社群。為了持續提供更多優質內容，我們將《Apex英雄》的開發團隊擴展至溫哥華。日本目前是《Apex英雄》的第二大市場，我們制定了強而有力的計劃，以繼續擴展該地區的業務。此外，《Apex英雄》行動版的開發將於新年完成，並於2022財年正式上線。

We also expect another very strong year for the Sims 4, a testament to the strength of that community as it enters the seventh year of live service.

我們也預期《模擬市民4》今年將繼續保持強勁勢頭，證明了該遊戲社群的強大實力，因為它已經進入了營運的第七年。

EA SPORTS will be executing on a significant expansion that will span new games, more geographies and more ways to engage. FIFA is growing. In addition to FIFA 21 on next-gen this year and Stadia in the new year, the success of our FIFA Online 4 free-to-play game in Asia now leads us to expand that game to new markets, including the Middle East and Eastern Europe.

EA SPORTS 將進行一項意義重大的擴張計劃，涵蓋新遊戲、更多地區以及更多互動方式。 FIFA 系列正在蓬勃發展。除了今年即將登陸次世代主機平台的 FIFA 21 以及明年即將登陸 Stadia 平台之外，FIFA Online 4 免費遊戲在亞洲的成功也促使我們將其拓展至包括中東和東歐在內的新市場。

Soccer continues to grow on popularity around the world, and we now have 6 new soccer mobile games in development for new genres and new markets. Our roster of top soccer league licenses is also unmatched. Our recently extended agreements with the Bundesliga and La Liga in addition to more than 30 other league partners, including UEFA Champions League, (inaudible) and the Premier League, enable us to continue delivering this franchise to more players around the world with the authenticity they expect.

足球在全球持續風靡，我們目前正在開發6款全新的足球手遊，涵蓋全新遊戲類型，並開拓全新市場。我們擁有的頂級足球聯賽授權陣容也堪稱無與倫比。我們近期與德甲和西甲續簽了合作協議，此外，我們還與包括歐冠聯賽、英超聯賽在內的30多家其他聯賽合作夥伴保持著合作關係，這使我們能夠繼續為全球更多玩家提供他們所期待的原汁原味的足球遊戲體驗。

We also just announced a new multiyear -- we also just announced new multiyear agreements with our partners at the NHL, NHLPA and UFC that is creating more innovative hockey and fighting experiences. We also have plans to add our core EA SPORTS portfolio with multiple new franchises in the years ahead. In addition to our college esports expansion that we've just announced with (inaudible), in the weeks ahead, we'll share more about another major new development in our esports program, capitalizing on our growing fan base and demand from esports teams, sponsors and broadcasters.

我們剛剛宣布與NHL、NHLPA和UFC的合作夥伴達成一項新的多年協議，旨在打造更具創新性的冰球和格鬥體驗。此外，我們計劃在未來幾年內，為EA SPORTS核心產品組合增添多個全新系列。除了剛剛宣布的大學電競拓展計劃（聽不清楚）之外，未來幾週，我們還將分享電競項目另一項重大進展，充分利用我們不斷增長的粉絲群以及電競戰隊、贊助商和轉播商的需求。

Our business has expanded significantly this year. Our pipeline of new games and live services is robust, and we're positioned well for sustained growth. A huge thank you goes to our amazing teams for their incredible spirit and dedication to our players. I am proud of how we have continued to execute. Now I'll turn the call over to Blake.

今年我們的業務取得了顯著成長。我們擁有充足的新遊戲和線上服務儲備，並已做好充分準備，實現持續成長。衷心感謝我們優秀的團隊，感謝他們展現的非凡精神和對玩家的奉獻。我為我們持續高效的執行力感到自豪。現在，我將把電話交給布萊克。

Thanks, Andrew, and I will echo what you said earlier, which is we hope all of you on the phone are healthy, your families are healthy, and you're dealing with this amazing challenge. We continue to be unbelievably impressed by how our teams have actually delivered. And Andrew talked about that, and it is just a testament to the strength of Electronic Arts.

謝謝安德魯，我完全同意你之前的說法，我們希望所有在座的各位身體健康，家人也健康，並且能夠應對這一巨大的挑戰。我們團隊的實際表現一直讓我們無比欽佩。安德魯也提到了這一點，這也體現了藝電的強大實力。

As you know from Chris' introduction, we're trying something a little different with our earnings call this quarter. And you should listen to my prepared remarks in conjunction with the expanded presentation we've posted on our Investor Relations website earlier today. It contains the metrics and the color I would normally read and bore you with. But hopefully, it gives you a lot more information than maybe you might hear through the call. This approach gives us more time for analysis and more time for your questions.

正如克里斯的介紹，我們本季財報電話會議的形式略有不同。建議您結合今天早些時候發佈在投資者關係網站上的擴展版演示文稿，聆聽我事先準備好的發言。簡報包含了通常我會念給各位聽的指標和數據，雖然可能會讓大家覺得枯燥乏味。但希望它能提供比電話會議中可能聽到的更多資訊。這種方式讓我們有更多的時間進行分析，也讓各位有更多的時間提問。

So with that, I'd like to briefly highlight a few points. We came in well above our guidance for the quarter. The beat was driven by our live services, led by Madden Ultimate Team and FIFA Ultimate Team. First week sell-through for Madden was up nearly 20% year-on-year, and this after Madden NFL 20 turning the best year ever for Madden on console. This is also the first time we linked Madden Mobile to console Madden, and we saw hundreds of thousands of mobile players registered in the first tranche of Madden NFL 21 buyers.

因此，我想簡要地強調幾點。我們本季的業績遠超預期。業績超預期主要得益於我們的線上服務，尤其是 Madden Ultimate Team 和 FIFA Ultimate Team 的出色表現。 Madden 系列遊戲的首周銷量同比增長近 20%，而在此之前，Madden NFL 20 剛剛創下了主機平台 Madden 系列遊戲有史以來的最佳成績。此外，這也是我們首次將 Madden Mobile 與主機平台 Madden 遊戲整合，首批 Madden NFL 21 的購買者中，就有數十萬行動端玩家註冊。

Credit is also due to the Respawn teams and the quality of the content that they have been adding to Apex Legends. Apex Legends net booking came in 24% above what we had last year and is off to an incredibly strong start in Q3. We started the year expecting Apex Legends to deliver $300 million to $400 million in net bookings, is now on track to deliver more than $500 million. That is Apex will have gone from $0 billion to about $1 billion in lifetime net bookings in just 2 years. With this velocity and the addition of mobile, we believe Apex has the potential to grow to $1 billion in net bookings every year. This is what we do. We've done it with FIFA. We've done it with Madden. We've done it with the Sims, and we're doing it again with Apex due to the amazing teams that we have really driving this business.

這也要歸功於Respawn團隊以及他們為《Apex英雄》不斷添加的高品質內容。 《Apex英雄》的淨收入比去年同期成長了24%，第三季開局強勁。年初我們預計《Apex英雄》的淨收入將達到3億至4億美元，而現在預計將超過5億美元。這意味著《Apex英雄》的累計淨收入將在短短兩年內從0美元成長到約10億美元。憑藉這樣的成長速度以及行動裝置的加入，我們相信《Apex英雄》有潛力每年實現10億美元的淨收入。這就是我們擅長的。我們用《FIFA》做到了，用《Madden》做到了，用《模擬市民》做到了，現在我們又用《Apex英雄》做到了，這都歸功於我們優秀的團隊，他們真正推動著這項業務的發展。

Mobile grew year-on-year again, and we're excited about a new title slate for this platform, particularly the Apex Legends and soccer games that Andrew discussed. It's been a strong 3 months for launching new EA games. We launched Madden NFL 21, Star Wars: Squadrons, UFC 4 in the quarter, along with Rocket Arena from Final Strike Games. Squadrons is the latest example of the power of our licensing model in which we leverage the synergy between well-loved IP and the skills of our development teams to bring extraordinary new experiences to fans and gamers.

行動端業務再次實現同比增長，我們對該平台的新遊戲陣容感到非常興奮，尤其是安德魯提到的《Apex英雄》和足球遊戲。過去三個月EA新遊戲發布動能強勁。本季我們推出了《麥登橄欖球21》、《星際大戰：戰機中隊》和《UFC 4》，以及Final Strike Games開發的《火箭競技場》。 《戰機中隊》是我們授權模式優勢的最新例證，該模式充分利用了備受喜愛的IP與我們開發團隊的技能之間的協同效應，為粉絲和玩家帶來非凡的全新體驗。

The FIFA franchise continues to grow. FIFA 20 attracted 12% more players than FIFA '19 and engagement remains strong, making FIFA 20 the most successful FIFA game in the 27-year history of the franchise.

FIFA系列遊戲持續發展壯大。 FIFA 20的玩家數量比FIFA 19增加了12%，玩家參與度依然很高，這使得FIFA 20成為該系列27年歷史上最成功的FIFA遊戲。

FIFA 21 launched after quarter end and is off to a great start with live services, net bookings for the first 3 weeks, up relative to the comparable period last year. FIFA Ultimate Team contributes to be the most popular mode in the game and also the most engaging for players. After 8 weeks of Madden NFL 21, digital accounted for 66% of units sold through the players. After the first 3 weeks of FIFA 21 number was 50%. These are both up 14 points year-over-year, and we believe this step-up is likely a permanent structural change driven by the COVID shelter-in-place orders.

FIFA 21 在季度末後發布，開局良好，線上服務和前三週的淨預訂量均較去年同期有所增長。 FIFA Ultimate Team 模式成為遊戲中最受歡迎的模式，也是玩家參與度最高的模式。 Madden NFL 21 發售八週後，數位版銷量佔總銷售量的 66%。 FIFA 21 發售前三週，這一比例為 50%。這兩個數字均年增 14 個百分點，我們認為這一增長很可能是由新冠疫情居家隔離令推動的永久性結構性變化。

This adds up to 6 new games launched since the beginning of Q2, including blockbuster franchises like FIFA and Madden and fan favorites like Star Wars: Squadrons. This is more than our peers manage in a year, the further testimony to our team's ability to execute under difficult circumstances. We've reached more players with the EA PLAY this quarter with the launch of the subscription service on Steam. In addition, Microsoft has noted, the value of EA PLAY will bring to their game pass ultimate, and we expect making it available on that platform will lead to another step-up in EA PLAY subscribers.

自第二季初以來，我們共推出了6款新遊戲，其中包括FIFA和Madden等熱門系列以及《星際大戰：戰機中隊》等備受玩家喜愛的作品。這超過了同業一年的產量，進一步證明了我們團隊在逆境中高效執行的能力。本季，隨著EA PLAY訂閱服務在Steam平台上線，我們接觸了更多玩家。此外，微軟也指出EA PLAY將提升其Game Pass Ultimate的價值，我們預期在Game Pass Ultimate上線EA PLAY將進一步推動EA PLAY訂閱用戶數的成長。

Operating expenses came in materially below our expectations, driven primarily by variable compensation and phasing of marketing investments. We had a new record in trailing 12-month cash flow of $2.04 billion. The strength and dependability of our cash flow has led us to start a new repurchase program this quarter and to initiate a dividend for the first time in the company's history. The share repurchase authorization is for a $2.6 billion program over 2 years. Our Board has declared a quarterly cash dividend of $0.17 per share on our common stock, which represents an annualized yield of about 0.5% calculated as of the close of the market on November 4. As a result, we expect to return a total of $3 billion to investors over the next 24 months. We're now looking ahead to the launches of the new Playstation and Xbox. Console transitions have historically driven broad industry growth and our opportunities to grow our franchises.

營運支出遠低於預期，主要原因是可變薪酬和行銷投資的分階段實施。過去12個月的現金流創下20.4億美元的新紀錄。強勁且穩定的現金流促使我們在本季啟動新的股票回購計劃，並首次發放股息。此次股票回購計畫的授權金額為26億美元，為期兩年。董事會已宣布派發每股0.17美元的季度現金股息，截至11月4日收盤，年化殖利率約0.5%。因此，我們預計未來24個月將向投資者返還總計30億美元。我們目前正著眼於即將推出的新款PlayStation和Xbox主機。主機換代歷來都能推動整個產業的成長，並為我們拓展旗下產品線創造機會。

In particular, owners of NFL 21 and FIFA 21 for the current generation of consoles can upgrade for free to the next-generation versions any time before the launch of the 22nd or 22 versions of game next year. In addition, we expect to leverage the ongoing strength of FIFA 20, engagement and building an even larger audience for FIFA 21.

具體來說，本世代主機版《NFL 21》和《FIFA 21》的玩家可以在明年第22代或第23代遊戲發布前的任何時間免費升級到次世代版本。此外，我們希望藉助《FIFA 20》的持續成功，提升玩家參與度，並為《FIFA 21》吸引更多玩家。

Our expectations for full year GAAP revenue remain $5.625 billion, cost of revenue to be $1.485 billion and earnings per share of $3.15. We are reaffirming our operating cash flow guidance of $1.85 billion. We continue to anticipate capital expenditures of around $125 million, which would deliver free cash flow of about $1.725 billion. See our earnings slides and further cash flow information for more details. Remember that our guidance EPS calculation do not factor in any share repurchases.

我們對全年GAAP營收的預期仍為56.25億美元，營收成本為14.85億美元，每股收益為3.15美元。我們重申先前18.5億美元的營運現金流預期。我們繼續預期資本支出約為1.25億美元，這將帶來約17.25億美元的自由現金流。更多詳情請參閱我們的獲利預測投影片和現金流資訊。請注意，我們的每股盈餘預期計算並未計入任何股票回購。

We expect net bookings for the year to be $5.95 billion, unchanged from our prior guidance. This is driven by ongoing strength in our live services, offset by the move of Apex Legends on Switch and the extra time we're giving to our EA originals titles. Versus our expectations last quarter, those changes amount to about $120 million of net bookings moved out of the fiscal 2021 year that will benefit fiscal 2022. The annual guidance factors in an FX headwind of about $80 million. And as you build your models, note that we are forecasting a fall in interest income of about $80 million compared to last year due to the sustained low interest rates the world is experiencing.

我們預計全年淨預訂額為59.5億美元，與先前預期持平。這主要得益於我們持續強勁的線上服務，但部分被《Apex英雄》登陸Switch平台以及我們為EA原創遊戲投入的額外時間所抵消。與上季預期相比，這些調整導致約1.2億美元的淨預訂金額從2021財年轉移至2022財年。年度預期已考慮約8000萬美元的匯率波動不利因素。此外，在您建立模型時，請注意，由於全球持續低利率環境，我們預計利息收入將比去年減少約8,000萬美元。

For the third quarter, we now expect GAAP net revenue of $1.675 billion, cost of revenue to be $599 million and operating expenses of $840 million. This resulted in earnings per share of $0.61 for the third quarter. We anticipate net bookings for the third quarter to be $2.35 billion, which would make it the largest quarter in EA history.

我們目前預計第三季GAAP淨收入為16.75億美元，營業成本為5.99億美元，營運費用為8.4億美元。由此計算，第三季每股收益為0.61美元。我們預計第三季淨預訂量將達到23.5億美元，這將使其成為EA史上最高的季度預訂量。

Some context for this guidance. We are now guiding fiscal 2021 net bookings to be 11% higher than fiscal 2020. This is incredible growth, some driven by the shelter-in-place orders but much also driven by the work our teams do every day in bringing new live services, content and games to players. Even with a strong year, we still expect net bookings and earnings to grow next year. The growth will be driven by a great slate of new titles, including Battlefield, our blockbuster sports titles, Need For Speed and the titles we moved out of fiscal '21 to '22. We anticipate a strong performance from our live services, and we continue to bring our franchises to new platforms, for example, bringing Apex Legends to mobile. With that, I will now turn it back to Andrew.

關於這份業績指引，我們需要一些背景資訊。我們目前預計2021財年的淨預訂量將比2020財年成長11%。這是一個令人矚目的成長，部分原因是居家隔離令的推動，但更重要的是我們團隊每天為玩家帶來全新線上服務、內容和遊戲的努力。即使2020財年業績強勁，我們仍預期明年的淨預訂量和收益將持續成長。這項成長將主要得益於一系列優秀的新遊戲，包括《戰地》系列、我們的熱門運動遊戲《極速快感》以及我們從2021財年移至2022財年的遊戲。我們預計我們的線上服務將表現強勁，我們將繼續將我們的遊戲系列移植到新的平台，例如將《Apex英雄》移植到行動平台。接下來，我將把發言權交還給安德魯。

Thanks, Blake. Games are becoming essential trait of the digital lifestyle for people around the world. With more players than ever continuing to connect and engage through our franchises our business has grown significantly this year, and we are confident of projecting meaningful growth into FY '22 and beyond. We hope everybody stays healthy and enjoy some great games this holiday season. And now Blake and I are here for your questions.

謝謝布萊克。遊戲正逐漸成為世界各地人們數位生活方式中不可或缺的一部分。越來越多的玩家透過我們的遊戲系列進行互動和交流，使得我們的業務在今年實現了顯著增長，我們有信心在2022財年及以後繼續保持穩健增長。祝大家假期健康快樂，盡情享受精彩的遊戲。現在，我和布萊克將回答大家的問題。

(Operator Instructions) Your first question comes from the line of Alexia Quadrani from JPMorgan.

（操作員說明）您的第一個問題來自摩根大通的 Alexia Quadrani。

I'm curious to what trends you might be seeing in Europe and the U.S. now that we see kind of resurgence in COVID-19 cases. Do you think that the second wave potentially could be a bit different than what you saw kind of earlier this year. In the sense people may have more pandemic fatigue and maybe less of a tailwind for sort of engaging in video gaming?

我很好奇，鑑於目前新冠肺炎病例似乎有所反彈，您在歐洲和美國觀察到了哪些趨勢？您認為第二波疫情是否會與今年稍早的情況有所不同？例如，人們可能對疫情感到更加疲憊，從而減少參與電子遊戲的動機？

Yes. Let me jump in first. I appreciate the question. It's a good question. I think the thing to note is unlike, say, March when virtually the whole world shutdown at the same time, we're seeing stages of changes in different communities around the world. And so we don't expect that we would see the surge that we saw before. But we also know that as we get into winter, flu season, other things. And I don't want to predict the COVID path because that's way out of my expertise. But we do know that people will continue to gravitate to online entertainment.

是的，讓我先說幾句。我很感謝你的提問，這確實是個好問題。我認為需要注意的是，與三月幾乎全世界同時停擺的情況不同，我們現在看到的是世界各地不同社區疫情分階段的變化。因此，我們預計不會再出現之前那樣的疫情高峰。但我們也知道，隨著冬季的到來，流感季和其他一些因素的影響，情況可能會有所改變。我不想預測新冠疫情的走向，因為這遠遠超出了我的專業範圍。但我們確實知道，人們會繼續傾向於線上娛樂。

And what we also know is that much of the traditional entertainment, i.e. movies, TV have been stalled because of the COVID situation. And so people will drift towards more and more online entertainment, which we know they're going to engage in, because we've seen that in the past. And we will continue to do things to try to help people understand why it is a great way to engage with things they love, be it sports, be it the Sims, be whatever it is.

我們也知道，由於新冠疫情的影響，許多傳統娛樂活動，例如電影和電視，都停滯不前。因此，人們會越來越傾向於線上娛樂，我們也知道他們會積極參與其中，因為我們過去已經觀察到了這一點。我們將繼續努力，幫助人們理解為什麼線上娛樂是參與他們喜愛的事物（無論是體育賽事、模擬人生遊戲，還是其他任何事物）的絕佳方式。

Hard to say and I will tell you we have been very careful not to try to predict that in our guidance. And thus, the reason that we've provided the guidance, we've provided because it is a world in which we have never been in before. And so trust that we'll keep investors and the sell-side up-to-date as we see things, but we want to also be really careful because of the world that, as I said, we just don't have a lot of history in. And we want to be really careful, but we also want to know that we are one of the most important entertainment vehicles for people during this difficult time.

很難說，而且我可以告訴大家，我們在業績指引中一直非常謹慎，避免做出任何預測。我們之所以提供業績指引，是因為我們正處於一個前所未有的境地。所以請相信，我們會隨時向投資者和賣方提供最新信息，但同時我們也必須非常謹慎，因為正如我所說，我們對這個領域缺乏經驗。我們希望謹慎行事，同時也希望確保在這個艱難時期，我們仍然是人們最重要的娛樂方式之一。

Maybe just a quick follow-up, if I may. Any update on the outlook for China game approvals for Apex?

能否再補充一點？關於Apex在中國的遊戲審核情況，有什麼最新進展嗎？

It is a very hard thing to predict. What we know is with our partners in China, we are very optimistic. But guessing approvals is really difficult. But we're optimistic. We believe that this is something that we can ultimately get approval on. But more importantly, remember, the mobile game for Apex outside of China, China doesn't require approval. And so it's more about making sure the game is correct, testing the game and then rolling it out in the key markets, and we're pretty confident on all of those.

這很難預測。我們目前與中國合作夥伴的合作讓我們非常樂觀。但要預測審批結果確實很難。不過我們依然保持樂觀，相信最終能夠獲得批准。更重要的是，請記住，Apex 手遊在中國以外地區無需批准。因此，關鍵在於確保遊戲本身無誤，進行測試，然後在重點市場推出。我們對這些方面都充滿信心。

As we talked about, the Japanese market is one of the largest markets for Apex, second largest in the world. We believe that there's a huge opportunity for mobile in that market. And so we will continue to focus on where we think those largest markets are for early rollout, and we'll keep people informed as we start to test the game and get it into the market. But I think, as Andrew said, in his comments, we believe that's coming in the coming fiscal '22. And we're excited -- we're very excited about the opportunity there.

正如我們之前討論的，日本市場是Apex最大的市場之一，也是全球第二大市場。我們相信，行動版在日本市場擁有巨大的發展潛力。因此，我們將繼續專注於我們認為最大的市場，爭取儘早推出行動版遊戲。隨著遊戲測試的進行和市場推廣的推進，我們會及時向大家通報最新進展。正如Andrew在評論中提到的，我們相信行動版會在即將到來的2022財年推出。我們對此感到非常興奮，對這個市場充滿期待。

(Operator Instructions) Our next question comes from the line of Alex Giaimo from Jefferies.

（操作說明）我們的下一個問題來自 Jefferies 公司的 Alex Giaimo。

Andrew, curious if you could provide any more color on the EA PLAY partnership with Microsoft Game Pass? I guess, why does the partnership make sense for EA? And why is it appealing? And then, Blake, if you could just provide any broad commentary around how the economics of that deal works? That would be helpful.

Andrew，我很想知道你能否更詳細地介紹EA PLAY與微軟Game Pass的合作？我想問的是，為什麼這項合作對EA來說意義重大？它又有哪些吸引人的地方？ Blake，如果你能就這項合作的經濟運作方式做一些概括性的分析，那就太好了。

In terms of why it makes sense for us, again, our objective from the very beginning has been to ensure that players can access our subscription on any platform in any way that makes sense for them to the best value gaming opportunity in the marketplace.

至於為什麼這對我們來說有意義，我們從一開始的目標就是確保玩家能夠透過任何平台以任何對他們來說合適的方式存取我們的訂閱服務，從而獲得市場上最有價值的遊戲機會。

We have strong partnership with Microsoft and Sony and Steam. And of course, we have our own platform with EA PLAY and as we looked at it, we saw this as an opportunity to build an access point for our EA PLAY subscription on the Microsoft platform. We saw it as a way to give gamers easy and frictionless access.

我們與微軟、索尼和Steam平台建立了牢固的合作關係。當然，我們也有自己的EA PLAY平台。經過考察，我們認為這是一個在微軟平台上搭建EA PLAY訂閱入口的機會，能夠提供玩家方便流暢的存取體驗。

We will -- as part of that, this is not just putting our games at Microsoft subscription, this is actually an entitlement to the EA PLAY subscription. And as a result of that, the relationship that we have with those players who make those subscriptions, they will be the same as if we sold it outside the platform. So you'll continue to see us think about our subscription broadly across platforms and making it available to any player wherever they want in any way they need with as little friction as possible.

作為其中的一部分，我們不僅將遊戲納入微軟訂閱服務，實際上還將其作為EA PLAY訂閱服務的權益。因此，我們與訂閱玩家之間的關係，將與我們在平台外銷售遊戲時完全相同。所以，您會看到我們繼續從跨平台的角度思考訂閱服務，並盡可能以最少的阻力，讓任何玩家都能隨時隨地以任何方式獲得訂閱。

Yes. What I would say is I can't give you details on the exact economics. You can imagine that Microsoft wanted us to be part of their subscription. We thought it was a great opportunity, and there's a positive economic impact on that.

是的。但我不能透露具體的經濟細節。您可以想像，微軟希望我們加入他們的訂閱方案。我們認為這是一個絕佳的機會，而且這會帶來正面的經濟影響。

When it comes to giving guidance next year, we probably still won't give detail because it's not that big of an overall business. I think to Andrew's point is the real goal is how do we grow our subscription and also help Microsoft grow their subscription. I mean this is a great partnership with them. And we're really looking. We are -- think about it as we're in the very early days of the industry on subscriptions for games, and we're doing everything possible to help consumers understand why it is a great potential for them to either be introduced to new games, play the games they love or play games for a great value. And so more to come on it, but you should also trust -- we don't do anything for free. So we -- and Microsoft to figure it out the right way, I think the economics work for both of us and that's how we've approached it.

至於明年的業績預期，我們可能還是不會透露太多細節，因為這並非一項規模龐大的業務。我認為正如安德魯所說，我們真正的目標是如何發展自己的訂閱業務，同時也幫助微軟發展他們的訂閱業務。我的意思是，這和微軟的合作非常棒。我們正在積極探索。要知道，遊戲訂閱產業仍處於起步階段，我們正在盡力幫助消費者理解，訂閱模式對他們來說潛力巨大，無論是接觸新遊戲、暢玩心儀的遊戲，還是以超值的價格玩遊戲，都能帶來巨大的好處。未來會有更多相關訊息，但請相信，我們不會白白付出。所以，我們和微軟正在努力尋找合適的解決方案，我認為這種經濟模式對我們雙方都有利，這也是我們一直以來的方法。

(Operator Instructions) Your next question comes from the line of Mario Lu from Barclays.

（操作員說明）您的下一個問題來自巴克萊銀行的 Mario Lu。

I have a couple on Madden. You guys mentioned that Madden NFL 21 has 30% more players year-on-year. I understand that the title has a new mode this year called The Yard. So any color you can provide on how that mode is performing and if it was a driver to either player or engagement growth. And just in the future, are there any plans to monetize either The Yard or for FIFA the Volta mode directly? Or do you think it's just best suited as an engagement enhancer?

我玩《麥登橄欖球》系列遊戲。你們提到《麥登橄欖球21》的玩家數量比前一年增加了30%。我知道今年的遊戲新增了一個叫做「The Yard」的模式。所以，你們能否透露這個模式的表現如何，以及它是否促進了玩家數量或遊戲參與度的成長？另外，未來是否有計劃將「The Yard」模式或FIFA的Volta模式直接商業化？還是說你們認為它比較適合作為提升玩家參與的手段？

Great question. Again, when we think about Madden and we think about FIFA for that matter, we really think about as a platform to bring the fans of these sports together to engage in interactive consumption of the sport. And 10, 15 years ago, we would have had multiple games, arcade style, simulation style, management style that we would put in the marketplace as separate packaged goods. As we've really transformed our business into the world of digital, as we've moved the experience from product to service for our players what our players have also told us is they want us to keep them together. They want to come together regardless of what format they're engaging with. And so as we continue to develop the Madden franchise, as we continue the FIFA franchise, you should expect that we'll continue to add these new modalities of play to the product or to the service.

問得好。再說一遍，當我們想到《麥登橄欖球》和《FIFA》時，我們真正想做的是將它們視為一個平台，把這些運動的粉絲聚集在一起，讓他們能夠以互動的方式體驗這項運動。 10到15年前，我們會推出多種遊戲，包括街機風格、模擬風格和管理風格，並將它們作為獨立的產品包裝投放市場。隨著我們真正將業務轉型到數位化領域，隨著我們將體驗從產品轉向服務，我們的玩家也告訴我們，他們希望我們能夠讓他們保持聯繫。無論他們以何種形式參與，他們都希望能夠聚在一起。因此，隨著我們繼續開發《麥登橄欖球》和《FIFA》系列，您可以期待我們將繼續為產品或服務添加這些新的遊戲模式。

What we've seen so far this year in Madden is there's been really good and strong engagement in The Yard. It's early -- it's still early in its life cycle. But it's offering this opportunity for people to come into the franchise in a new way and play a more casual experience. If they haven't really wanted to engage in the full 11, V11 experience that he is going to buy. But it also allows our harder core players to do something a little different, a little more social and a little faster paced than the traditional Madden game. And so overall, we feel like it adds a substantial element to the overall player experience, both for new players and returning players. And the same has been true for Volta inside of FIFA.

今年到目前為止，我們在《麥登橄欖球》系列遊戲中看到的是，玩家對「The Yard」模式的參與度非常高。雖然它還處於早期階段，但它為玩家提供了一種全新的體驗方式，讓他們能夠以更休閒的方式接觸這個系列。對於那些之前不想體驗完整版《麥登橄欖球11》或《麥登橄欖球11》的玩家來說，這種模式是個不錯的選擇。同時，它也讓核心玩家體驗一些不同的內容，例如更具社交性、節奏更快的遊戲方式，這與傳統的《麥登橄欖球》遊戲有所不同。總而言之，我們認為它為玩家的整體體驗增添了重要的元素，無論是對新玩家還是回歸玩家而言都是如此。 FIFA中的Volta模式也是如此。

In the context of cosmetic sale items, we'll start to experiment with that. What we've seen across the industry is when done right, the purchase of cosmetics that allow you to individualize and personalize your experience and build status in that environment as you play with your friends, have been really, really well received. We expect that will be no different in Madden and FIFA over time, and we'll start to work with our gaming communities as to what are the right things to them? What kind of cosmetics they look like? What are most authentic and relatable to the sports that they're playing in? And what gives them the opportunity to be unique in these large growing communities?

在外觀道具銷售方面，我們將開始嘗試。我們觀察到，在整個行業中，如果設計得當，能夠讓玩家個性化定制遊戲體驗、並在與朋友一起遊戲時提升自身地位的外觀道具，會受到玩家的熱烈歡迎。我們預計，隨著時間的推移，《麥登橄欖球》和《FIFA》也會如此。我們將與遊戲社群合作，了解他們真正需要什麼？他們想要什麼樣的外觀道具？哪些道具最能體現他們所玩運動的真實性和相關性？以及如何讓他們在這些不斷成長的社區中展現獨特的個性？

Sorry, Sorry, Jason, I don't think we have any more questions in the queue, right? We got one, okay.

抱歉，抱歉，傑森，我想我們隊列裡應該沒有其他問題了吧？我們還有一個問題，好的。

(Operator Instructions) We do have a couple more questions. Your next question is from the line of Stephen Ju from Crédit Suisse.

（操作員說明）我們還有幾個問題。下一個問題來自瑞士信貸的 Stephen Ju。

So I think this was almost back in July. I think you guys hired a new head of Mobile games, I think, Jeff Karp, I believe. So I'm just wondering what you think he's going to do that's different versus the prior management of that segment. Because I think we've been kind of waiting for some of your larger franchises to become hits on Mobile as well. So what you think the road map is going to be for the future for these entertainment properties to reach an audience that's hopefully multiples of what you have now?

我記得大概是七月的時候，你們聘請了一位新的行動遊戲負責人，好像叫傑夫‧卡普（Jeff Karp）。我想知道你覺得他會做出哪些與之前管理階層不同的措施。因為我們一直都在期待你們的一些知名IP也能在行動平台上取得成功。那麼，你認為未來這些娛樂IP的發展路線圖會是怎麼樣的，才能讓它們接觸到比現在多幾倍的受眾群呢？

Great question. And we're really happy and excited to welcome Jeff back to the organization. He has been an EA veteran and held very senior leadership roles in the company some number of years ago. But spent the best part of the last decade in kind of mobile-first organizations and comes back to us with unbelievable experience and tremendous expertise. And we are now -- you heard me talk about 6 new FIFA titles. You hear us talk about the push with Apex Legends.

問得好。我們非常高興地歡迎傑夫重返公司。他曾是EA的老員工，幾年前在公司擔任非常高階的領導職務。過去十年，他主要在行動優先型公司工作，累積了豐富的經驗和卓越的專業知識。現在，正如我之前提到的，我們正在開發6款新的FIFA遊戲。你們也聽到了我們大力推廣Apex Legends的消息。

What I would tell you is, Jeff has come back and made 3 core assessments. The first is that we have an existing portfolio of games that are tremendously profitable but have significant more opportunity for engagement and monetization than we're presently doing with some changes to the organization and some changes to how we run those live services. And he's already started to work with leaders, and we brought a number of new leaders from across the mobile industry into our company, and they are going through each one of our franchises and looking for opportunities to deliver new content, new experiences and new services to players that will drive higher engagement and result in monetization in our existing franchises.

我想告訴大家的是，傑夫回來後做了三個核心評估。首先，我們現有的遊戲組合獲利能力非常強，但透過對組織架構和運作方式進行一些調整，這些遊戲在用戶參與度和盈利方面還有很大的提升空間。他已經開始與領導層合作，我們也從行動產業引進了多位新的領導者，他們正在逐一審視我們旗下的每個遊戲系列，尋找機會為玩家提供新的內容、體驗和服務，從而提高用戶參與度，並最終實現現有遊戲系列的盈利。

The second thing he has done has come in and said, there are a number of key franchises like FIFA, who have unbelievable exponential opportunity around the world. And he's put in motion a series of internal development and external development that will really start to execute against our big franchises like FIFA and some others that we will be able to talk about more soon. And then the third thing is, he also has a tremendous network out there in the mobile sphere. And there are a lot of great developers out there who have really great games and really great game mechanics and lot of experience and expertise but they do not have the IP to build their games around or the marketing muscle to really drive acquisition and what is becoming an increasingly competitive market.

他做的第二件事是，他指出像FIFA這樣的一些關鍵系列遊戲在全球範圍內擁有巨大的指數級成長潛力。他啟動了一系列內部和外部開發項目，這些項目將真正開始針對FIFA等大型系列遊戲以及其他一些我們很快會詳細介紹的遊戲進行推廣。第三件事是，他在行動領域擁有龐大的人脈網絡。有許多優秀的開發者，他們擁有非常出色的遊戲、優秀的遊戲機制以及豐富的經驗和專業知識，但他們缺乏可以圍繞其開發遊戲的IP，也缺乏在競爭日益激烈的市場中推動用戶獲取的營銷實力。

And so Jeff is also doing a lot of outreach with external developers and publishers and looking at ways that we could partner differently with them with our slate of IP and with our marketing muscle. Either in the context of licensing or co-development or co-publishing or in some cases, acquisition. And so I've not been more excited for a number of years about what I think we're going to be able to achieve in our mobile business. And again, what we know is mobile is tremendously competitive. It's somewhat unpredictable. There are a lot of games that come to app stores on an annualized basis. But we are seeing that where you build games with great teams around trusted IP that offer unbelievable experience and value to players that monetization opportunity is very, very strong. And we're confident about that going into FY '22 with FIFA and Apex Legends and Star Wars: Galaxy of Heroes and others. But certainly, as we look out further into '23 and '24, we feel like we're well positioned there as well.

因此，傑夫也積極與外部開發者和發行商接洽，探索如何利用我們豐富的IP資源和強大的行銷能力，以不同的方式與他們合作。合作形式包括授權、共同開發、聯合發行，甚至在某些情況下，還有收購。多年來，我從未像現在這樣對我們在行動業務方面能夠取得的成就感到如此興奮。我們都知道，行動領域的競爭異常激烈，而且難以預測。每年都有很多遊戲湧入應用程式商店。但我們發現，如果能夠組建優秀的團隊，圍繞著值得信賴的IP打造遊戲，為玩家提供無與倫比的體驗和價值，那麼盈利空間將非常巨大。我們對2022財年充滿信心，屆時我們將推出《FIFA》、《Apex英雄》、《星際大戰：銀河英雄傳》等遊戲。當然，展望2023和2024財年，我們也相信我們已做好充分準備。

Your next question comes from the line of Robert Berg from Bamberg.

你的下一個問題來自班貝格的羅伯特·伯格。

I'm just -- on next-generation interestedly here, you're thinking behind the free next year upgrades that you're offering for FIFA, for example, versus the higher price that some of your peers charging to their games and how you set it on your current strategy? And then a quick follow-up with whether you think that even with the free upgrade path, the next-gen consoles is delaying the purchasing decisions of any of your players even in a few weeks or months?

我對次世代主機很感興趣，例如你們為FIFA提供的明年免費升級方案，與一些同行遊戲更高的定價策略相比，你們是如何考慮的？另外，即使有免費升級方案，你們是否認為次世代主機的推出會影響玩家在幾週或幾個月內的購買決定？

Yes. I would say, I mean, we've always known, and we've seen over history that people will delay purchases without gap. I mean, it's just -- it's natural in a console transition. But I would also remember that there will only be a small amount, and this is not a negative on Sony or Microsoft business is just a reality of how many consoles they can produce. Dave, I think both publicly talked about 8 million, 10 million, 11 million, 12 million consoles in the market between now and the end of March. Because that -- it's just reality, right?

是的。我的意思是，我們一直都知道，而且從歷史經驗來看，人們會推遲購買，而且不會出現斷檔期。我的意思是，這在主機換代過程中很正常。但我也要記住，數量終究有限，這並非索尼或微軟業務的壞事，只是他們產能有限這一現實。戴夫，我想他們都公開說過，從現在到三月底，市場上會有800萬、1000萬、1100萬、1200萬台主機。因為——這就是現實，對吧？

So we know that some people will wait but also some people will upgrade over time. And the reason we did the upgrade program is we wanted to make sure people felt that they would be comfortable buying the Gen 4 version and the notion that they would be able to upgrade without any problems. And it's all about the consumer experience, it's about making sure you're staying connected to your social network that plays the same game that you're playing. And we didn't want anyone to feel like for some reason because they didn't want to -- or they wanted to wait for a new console that they didn't fall out of the key component of what is so important in our games, which is the ability to play with your friends. And it's not much more complicated than that.

所以我們知道有些人會選擇等待，但有些人會隨著時間的推移而升級。我們推出升級計畫的原因在於，我們希望確保用戶在購買第四代主機時感到安心，並且能夠順利升級。這一切都是為了提升用戶體驗，確保用戶能夠與玩同一款遊戲的社交圈保持聯繫。我們不希望任何人因為某些原因——例如他們不想升級，或想等待新主機——而錯失我們遊戲中至關重要的與朋友一起遊戲的體驗。事情就是這麼簡單。

We do think if we look back on past console transitions, we know that it will take time to build the inventory and the level of new consoles. But we also know, based on what we've seen in the new consoles, it will add incredible opportunities for us to build better and better games over time because of more power. And that's what we're really excited about. And as we've talked about, we will build a series of games this year and continue to add to that, no different than we've done in past console cycles. And I think the rest of the industry is that way. And that's how people approach it, but it is where it gets really, really exciting a year or 2 years from now because I will tell you, games are going to be unbelievable when you start to see them a year or 2 years from now in the new consoles.

回顧以往的遊戲主機更迭，我們深知建立新主機的遊戲陣容和提升其效能需要時間。但我們也從新主機的表現來看，更強大的效能將為我們帶來無限機遇，讓我們能夠持續打造更優質的遊戲。這正是我們感到無比興奮的原因。正如我們之前所說，我們將在今年推出一系列遊戲，並持續更新，這與以往的遊戲主機週期並無二致。我認為其他遊戲廠商也都是如此。大家都在以同樣的方式看待這個問題，但真正令人興奮的時刻還在後頭，尤其是在一兩年後。我可以肯定地說，一兩年後，當你們在新主機上看到遊戲時，一定會覺得它們無比精彩。

And a quick follow-up, if I can. The games are going to be, hopefully, as I believe what you said, do you think that warrants a higher price point in the future?

如果可以的話，我想再問一個後續問題。這些遊戲如果真像你所說的那樣，你認為這是否意味著它們未來應該定價更高？

Yes. I mean, I don't really want to weigh in on that yet. We've always said that games are getting more expensive. The experience is getting deeper. The time that people are playing games is getting longer. One might argue that, that might require a higher price point over time. But we'll address that as we get closer to more games coming into the next-gen console transition. And when -- what I default back to is, let's stay focused on the excitement of what we can do with the new games, and price will follow that. We'll figure that out. And I don't want people to read into that. We're going to raise prices or not. We don't know yet. What we do know is we're going to be able to do a lot more things with the new consoles and our partnerships with the new console, Sony and Microsoft and others that are making the consoles.

是的。我的意思是，我現在還不想就此發表意見。我們一直都說遊戲越來越貴，遊戲體驗越來越深入，玩家玩遊戲的時間也越來越長。有人可能會說，隨著時間的推移，這或許需要更高的價格。但我們會隨著更多遊戲登陸次世代主機而考慮這個問題。我始終堅持的觀點是，讓我們專注於新遊戲帶來的驚喜，價格自然會跟著調整。我們會找到解決辦法的。我不想讓大家過度解讀。我們是否會漲價，目前仍不得而知。但我們知道的是，借助新主機以及我們與索尼、微軟和其他主機廠商的合作，我們將能夠做更多的事情。

Jason, could you give us the next question, please?

傑森，請問你能提出下一個問題嗎？

My apologies. I was muted. Your next question comes from the line of Andrew Uerkwitz from Oppenheimer.

抱歉，我剛才被靜音了。你的下一個問題出自奧本海默公司的安德魯‧烏爾克維茲的一句話。

Have a couple of questions. The first one is, could you give us a little history lesson on the impact that new consoles have on sports titles? It seems that the new powerful consoles could do a lot pretty quickly for ball physics and bodies and crowds and audiences. So do you normally see a pickup within the sports franchises in the first couple of years of a console cycle?

我有幾個問題。第一個問題是，您能否簡單介紹一下新主機對運動遊戲的影響？看起來，強大的新主機似乎能快速提升球類物理效果、球員身體狀態、人群以及觀眾表現。那麼，您通常會在主機週期的前幾年看到體育遊戲系列的銷售成長嗎？

Yes, I'll let Andrew answer that because he's lived this a lot more than I have.

是的，我會讓安德魯來回答這個問題，因為他在這方面的經驗比我豐富得多。

The short answer is yes. I've been doing this for a long time now. And most of my career before I was fortunate enough to have this job, I was building sports video games. And so I went through a number of consoles. And I would tell you, not only do we see the market grow considerably. If you go back and look through history, every console transition meaningfully grows the market, and top-tier frontline sports games almost always drive a lot of that growth and benefit from the growth in player engagement as those console transitions move through and a bigger market buys into the new console generation.

簡而言之，答案是肯定的。我從事這行已經很久了。在我有幸獲得這份工作之前，我的大部分職業生涯都在開發體育類電子遊戲。因此，我經歷了許多不同的遊戲主機時代。我可以告訴你，我們不僅看到市場顯著增長，而且回顧歷史，每一次主機換代都會顯著促進市場增長，而頂級的體育遊戲幾乎總是推動這種增長的主要動力，並受益於主機換代帶來的玩家參與度提升，以及更多玩家購買新一代主機。

We think about game development in terms of kind of what can you do with a core technology level, what can you do at a future level? And what can you do at a social level and as we've gone through generations, the intelligence and the believability of plays in a sports game, it's had a step change in immersion and authenticity and realism, each console generation.

我們思考遊戲開發時，會考慮在核心技術層面能做什麼，在未來技術層面能做什麼，以及在社會層面能做什麼。隨著遊戲機的發展，體育遊戲中比賽的智慧和可信度，以及沉浸感、真實性和現實感，每一代主機都取得了飛躍的進步。

If you go back, you want the history lesson, PS2 was all about, can you make athletes look like the real-world athlete? PS3 or the next-generation was all about, can you make the moves like real athletes. The generation that we're now is, can you make them (inaudible) like real athletes? And as we look at the next-generation of platforms, it's can you bring all of those together and add a level of intelligence to those players that upholds the suspense and this belief that you are, in fact, engaging with real athletes in a real game on a real pitch. And so I expect that we will continue to do and drive unbelievable new development in the context of the base technology that drives the game play.

回顧歷史，PS2 的核心在於：如何讓遊戲中的運動員看起來像是現實世界中的運動員？ PS3 或次世代主機的核心在於：如何讓遊戲中的運動員做出像真實運動員一樣的動作？而我們現在所處的這一代主​​機，則在於：如何讓遊戲中的運動員（聽不清楚）像真實運動員？展望下一代主機平台，關鍵在於：如何將所有這些優勢融合起來，並為遊戲中的球員賦予更高的智能水平，從而保持遊戲的懸念，並讓玩家相信自己確實在真實的球場上與真實的運動員進行著真實的比賽？因此，我預計我們將繼續在遊戲玩法的基礎技術框架下，推動令人難以置信的創新發展。

The second thing that you'll also see as we move through transition, is kind of modality shift how people play, single player to multiplayer, multiplier to cooperative play. And you'll see us continue to do that with the power of these new platforms and how we can bring players together in new modalities of play. And you're starting to see some of those things with how we started with Volta, how we've started with The Yard, and you should expect that we'll continue to expand the modalities of play on new platforms.

其次，隨著我們逐步過渡，您還會看到遊戲模式的轉變，從單人遊戲轉向多人遊戲，再從多人遊戲轉向合作遊戲。我們將利用這些新平台的強大功能，繼續推動這種轉變，讓玩家們以全新的遊戲模式聚集在一起。從 Volta 和 The Yard 的嘗試中，您已經開始看到一些端倪。您可以期待，我們將繼續在新平台上拓展遊戲模式。

And then last and this happened as we move from offline to online. It's really the social nature of the game and how you tie the game to the real-world of sport. And you heard me talk about how we're building Madden so that there is a greater influence of what's happening in the real-world of sport on your game. But you should also imagine that we'll start to think about how do we use the technology in these new platforms, how do we use them plus the combination of the cloud to bring millions and millions of players together in a social ecosystem around the consumption of their favorite sport.

最後一點，也是我們從線下轉向線上的原因，在於遊戲的社交屬性，以及如何將遊戲與現實世界的運動賽事連結起來。你們也聽我說過，我們正在打造的《麥登橄欖球》遊戲，旨在讓現實世界的體育賽事對遊戲產生更大的影響。但你們也應該想像，我們將開始思考如何利用這些新平台上的技術，如何將它們與雲端技術結合，從而將數百萬玩家聚集在一個圍繞他們喜愛的體育賽事而構建的社交生態系統中。

And we're excited by that as much as the base technology, quite frankly, because these are becoming social networks for sports fans and COVID has accelerated that for us as the consumption of sport more broadly has moved from lean interactive and physical interaction has moved -- social interactions move from physical to digital. So as we think about the combination of the base technology that influence gameplay, the different modalities of play that the new platforms will enable and the new platforms combined with the cloud to offer an expansion of the social network orientation of these games, we're really excited about the future. And you tie that into what will almost certainly be a growing marketplace. We think we have tremendous opportunity, not just this year, but in many years to come.

坦白說，我們對這一點感到興奮，就像對基礎技術一樣興奮，因為這些平台正在成為體育迷的社交網絡，而新冠疫情加速了這一趨勢。隨著運動消費方式的轉變，人們的互動方式也從傳統的線下轉向線上，社交互動也從線下轉向了線上。因此，當我們思考影響遊戲玩法的基礎技術、新平台將支援的不同遊戲模式，以及新平台與雲端技術的結合如何擴展這些遊戲的社交網路功能時，我們對未來充滿期待。而且，這幾乎肯定會帶來一個不斷成長的市場。我們認為我們擁有巨大的機遇，不僅是今年，而且在未來的許多年裡都將如此。

Awesome. I appreciate the enthusiasm for the game technology. It's great color. And if I can just sneak one more in. Blake, last quarter, you mentioned you remain very interested in M&A and want to be active there. How should investors square that thought with the buyback and the new dividend. Can you give us your latest thoughts on M&A?

太棒了！我很欣賞大家對遊戲技術的熱情。色彩真棒！如果可以的話，我再補充一點。布萊克，上個季度你提到你仍然對併購非常感興趣，並且希望積極參與其中。投資人該如何看待你對併購的關注，以及股票回購和新的分紅政策呢？可以分享一下你對併購的最新看法嗎？

Yes. I would not connect the dots between the buyback or dividend with M&A. I mean, we -- I think you all know, we're on a consistent path of buyback, and we paused it at the end of the last part of the buyback program when we finished it at the end of March because we were going into COVID, and I think we were pretty transparent with people that it wasn't just a street issue. It was also a concern around how our employees thought about how we are spending our money. And we feel more confident of that today. And in fact, I would say we feel more confident because we've added the dividend.

是的。我不會把股票回購或分紅與併購連結。我的意思是，我想大家都知道，我們一直在進行股票回購，但在3月底完成最後一期回購計劃後暫停了回購，因為當時正值新冠疫情爆發初期。我認為我們已經非常坦誠地向大家說明，這不僅是市場的問題，也是出於對員工如何看待我們資金使用方式的擔憂。而現在，我們對此更有信心了。事實上，我認為我們更有信心是因為我們增加了分紅。

Now the reality is, if we're talking about the buyback level and the dividend level, we're still either under or coming close to our annual cash flow. And we have substantial cash on the balance sheet and substantial debt capacity. So don't read into that as the inability or lack of desire to do any acquisitions. We are incredibly focused on what could we buy, but at the same time, we're also focused on making sure we don't destroy shareholder value in buying and doing an acquisition. And I don't want to comment on any individual acquisitions, but it's a balance of driving growth, but at the same time, being responsible with your guy's capital because that's with investors' capital because that's what really matters to us.

現實情況是，如果我們討論股票回購水平和股息水平，我們目前的現金流仍然低於或接近年度現金流目標。而且，我們的資產負債表上擁有大量現金和充足的債務融資能力。所以，不要把這解讀為我們無力或缺乏收購意願。我們非常關注潛在的收購目標，但同時，我們也致力於確保收購不會損害股東價值。我不想對任何特定的收購項目發表評論，但關鍵在於如何在推動成長的同時，負責任地使用員工的資金，因為那是投資者的資金，這才是我們真正關心的。

What I would say, though, is the one thing to read into the buyback and the dividend is an incredible confidence in the business. And that's not short-term confidence because that's not how we operate the company. I remind people, we increased our guidance by almost $500 million at the end of the first quarter. And if many of you have been around a long time, we've almost rarely ever increased guidance coming out of the first quarter. And granted, we had the COVID situation that created one of the greatest first quarters, unfortunately because of the situation that was going on around the world. But what we are continuing to do is feel very, very confident about our business. I don't want anyone to read the fact that we may not be raising guidance now, as a negative because we need to all remember, we've raised guidance $500 million during the year. We thought we were going to do $5.55 billion, and we're talking about close to $6 billion and what you heard from Andrew and I today as we're planning on growth again next year. That's the most important message.

不過，我想說的是，從股票回購和分紅中可以解讀出一點：我們對公司業務充滿信心。這並非短期信心，因為我們公司的運作方式並非如此。我要提醒大家，我們在第一季末將業績預期上調了近5億美元。如果你們當中許多人長期關注我們，就會知道我們幾乎從未在第一季末上調業績預期。誠然，新冠疫情造就了我們迄今為止最出色的第一季之一，但這不幸也是由於當時全球疫情的影響。但我們依然對我們的業務充滿信心。我不希望任何人將我們現在可能沒有上調業績預期解讀為負面消息，因為我們需要記住，我們今年已經將業績預期上調了5億美元。我們原本預計營收將達到55.5億美元，而現在接近60億美元，正如你們今天從我和安德魯那裡聽到的，我們計劃明年繼續保持增長。這才是最重要的訊息。

What I will also tell you is if anyone can predict right now what's going to happen in the economy over the next 3 months or 6 months, call me and tell me. Because it is going to be very difficult, and we are very careful in how we present and focus our guidance in our business, but we are very confident in the strength of our business right now. And we are seeing things, as we mentioned. A simple example, Apex Japan, and we don't know when it will happen. But if it happens, it will be big. There is so many different things inside our business that are so strong that we are very, very excited about where it can go.

我還要告訴大家，如果有人現在就能預測未來3個月或6個月的經濟走勢，請務必告訴我。因為未來情勢非常難以預測，我們在闡述和闡述業務指導時也格外謹慎，但我們對公司目前的實力充滿信心。正如我們之前提到的，我們已經看到了一些跡象。舉個簡單的例子，A​​pex Japan項目，我們不知道它何時啟動，但如果啟動，規模將會非常大。我們公司內部有許多實力強勁的項目，我們對它們的未來發展前景感到非常興奮。

So I just -- I don't want anyone to get ahead of themselves on guidance, but I don't want anyone to think that the message we're sending out is in any way negative that we haven't raised guidance because remember, we raised guidance by $500 million, and we've told people, we're going to grow again next year. So keep it in that context, that's where it gets exciting. That's where the opportunity is. I know that's not the question you asked, but don't read anything into things like share repurchase or dividend as a negative. They're all positive.

所以，我不想讓大家對業績指引抱持過高的期望，但也不想讓大家誤以為我們沒有上調業績指引就代表負面消息。要知道，我們已經將業績指引上調了5億美元，而且我們也告訴大家，明年我們將繼續成長。所以，請把這些都放在這個背景下看待，這才是真正令人興奮的地方，也是機會所在。我知道你問的不是這個，但請不要把股票回購或分紅之類的舉措解讀成負面訊號，它們都是正面的訊號。

It's a commitment and a confidence in the business that I think we're -- that's where Andrew and I are and why it's so exciting in our industry is so exciting going forward. So sorry to a little too much more than everyone wanted to hear, but I just -- I think both Andrew and I are really passionate about where we think this is going. And we want to make sure people don't get over indexed on the short term, and they actually read what we're telling people as the real opportunity.

這是一種對業務的承諾和信心，我認為我們——安德魯和我——都認同這一點，也正是我們這個行業未來發展如此令人興奮的原因。很抱歉說了這麼多，可能有點超出大家的預期，但我真的——安德魯和我都對公司的發展方向充滿熱情。我們希望確保大家不要被短期因素過度關注，而是真正理解我們所傳達的訊息，並將其視為真正的機會。

No, I think that's -- I think that's great color. I appreciate that. I think that's a lot of the questions I've been getting so far tonight. Had a mixed feeling but, I can't even predict what I'm having for dinner tonight. So great quarter, and we'll talk to you next one.

不，我覺得──我覺得這顏色很棒。我很欣賞。我想今晚我收到的問題大多都跟這個有關。心情有點複雜，但我甚至不知道今晚吃什麼。所以，這季很精彩，我們下期再聊。

Thank you. Chris, any more questions in the queue?

謝謝。克里斯，還有其他問題嗎？

There certainly is. Your final question comes from the line of Alex Giaimo from Jefferies.

當然有。你最後一個問題來自傑富瑞集團的亞歷克斯·賈伊莫。

Let me hop back on. We've seen a lot of game delays in the space recently and even on the AAA side. So just curious, as you think towards next year in Battlefield, obviously, that's a big theme for fiscal '22. So just curious if you can provide an update about how you're feeling about the development process? And if there's any risk a year from now that maybe that game doesn't launch on time? It would be helpful to get an update there.

讓我再接上話。最近遊戲市場，包括3A大作在內，都出現了不少延期的情況。所以，我很好奇，考慮到明年《戰地》系列的開發進度，這顯然是2022財年的重點。我想了解一下您對開發進度的看法，以及一年後遊戲可能無法按時發售的風險。如果您能提供一些相關信息，那就太好了。

Yes. Great question. Again, if you look at our prepared remarks and the conversation we've had today, we've launched 8 games and over 200 live services and season 7 of Apex Legends during this time. Working from home is -- there's no doubt it's extraordinarily hard and we're doing all we can to support our teams in any way we can. There are some benefits that come from having our scale and having our organizational structure that allows us greater fluidity of our talent.

是的，問得好。再次強調，如果您回顧一下我們準備的演講稿以及今天的討論，您會發現我們在這段時間裡推出了8款遊戲、超過200項線上服務以及《Apex英雄》第七賽季。居家辦公—毫無疑問，這非常困難，我們正在盡一切努力為我們的團隊提供各種支援。我們擁有的規模和組織架構也帶來了一些優勢，使我們能夠更靈活地調配人才。

We're able to move talent from project to project. We're able to kind of leverage our scale in the development process. And you've seen that play out this year in our ability to launch as much high-quality content as we have. And even as of 11:00 a.m. this morning, season 7 of Apex Legends is on track to be our largest launch day since the launch of the product.

我們能夠靈活調配人才，在開發過程中充分運用規模優勢。今年，我們已經成功推出了大量高品質內容，充分體現了這一點。截至今天上午 11 點，《Apex英雄》第七季有望成為自產品發布以來規模最大的一次上線。

Steam in the first rolled out performance has been extremely strong. Our new champion edition is already a top 3 bestseller on Steam. We've had the most minutes watched on Twitch since the launch of the product. So another testament to just the unbelievable inspirational capabilities of our teams and our ability to continue to deliver amazing games, experiences and content in the face of these ongoing challenges.

Steam平台首輪上線表現極為強勁。我們的全新冠軍版已躋身Steam暢銷榜前三名。自從產品發布以來，我們在Twitch上的觀看時間也創下新高。這再次證明了我們團隊令人難以置信的創造力，以及我們面對持續挑戰依然能夠不斷推出精彩遊戲、體驗和內容的實力。

As we think about Battlefield next year, again, you heard me talk about we're doing internal play testing. We're starting to go out to our community and get feedback. I was part of the product review last week. We have rallied that entire studio around the development of Battlefield, specifically. We've given them an extra year of development. You'll remember to ensure that they can, in fact, build a true next-gen vision around that game. DICE is one of the most talented studios on the planet, and we've been able to add leadership from our EA SPORTS business and David Rutter, who understands both live services and the rigor of development.

展望明年的《戰地風雲》系列，正如我之前提到的，我們正在進行內部遊戲測試。我們也開始向玩家社群收集回饋。上週我參與了產品評審。我們已經讓整個工作室全力投入《戰地》的開發中。我們額外給了他們一年的開發時間。請務必確保他們能夠圍繞這款遊戲打造真正的次世代願景。 DICE是全球最具才華的工作室之一，我們也從EA SPORTS業務中吸收了領導團隊，並邀請了David Rutter加入，他既了解線上服務，也深諳遊戲開發的嚴謹性。

We've brought in talent from across the industry who have really bolstered our belief and our confidence in our ability to launch that game next year. So lots more to come in the next couple of months. But even in the face of challenges, I think we've demonstrated an ability to launch amazing games and content. I feel really, really good about the content we're coming next year. And part of why we have the confidence in FY '22 that we have to grow off this year, which is going to be an unbelievably extraordinary record year for us is because our scale and our organizational structure and our amazing talent, our amazing people are really coming together to deliver amazing content next year. So...

我們從業內各領域引進了優秀人才，這大大增強了我們對明年發布這款遊戲的信心。未來幾個月還會有更多消息公佈。即便麵臨挑戰，我認為我們已經證明了我們有能力推出精彩的遊戲和內容。我對明年即將推出的內容感到非常非常滿意。我們之所以對2022財年充滿信心，並相信今年能夠在此基礎上繼續發展——這將是我們無比輝煌的一年——部分原因在於我們的規模、組織架構以及我們傑出的人才和團隊正在齊心協力，為明年帶來精彩的內容。所以…

So with that, I'll turn it back to Andrew just to a couple of closing remarks. I do thank everybody for spending the time and the commitment on following us. And obviously, you know you can always connect with Chris, [Aaron,] myself and others on any questions, but I'll turn it back to Andrew.

那麼，接下來我把麥克風交還給安德魯，讓他做幾點總結。我衷心感謝大家抽空關注我們。當然，你們也知道，如有任何問題，隨時可以聯絡克里斯、亞倫、我和其他人，但我現在就把麥克風交給安德魯。

Yes. And thank you, everyone, for joining us, and we do hope you stay safe and healthy in what appears to be a second surge of COVID in parts of the world. What I think you've earn from me today is extremely confidence in where we're at right now and where we're going for our business. We've had strength and growth in our business this year, already forecasting 11% growth year-over-year for FY '21. We've launched great new games in content, FIFA, Madden, Apex Legends, the Sims, all continue to be major growth drivers, and we've got further expansion opportunities this year and beyond. We are excited for the upcoming console launches. New hardware has historically always grown the market and offers us another opportunity to grow FIFA and Madden franchises with our next-gen games, and we're projecting continued growth in fiscal year FY '22 and beyond with an expansion of our sports portfolio, a double down in mobile, extension of our live services and of course, a new Battlefield game. So thank you for being here today. Thanks for your questions. Be well. Thank you so much.

是的。感謝各位的到來，也衷心希望大家在世界部分地區似乎出現第二波新冠疫情的情況下，都能保持健康平安。我相信大家今天從我這裡感受到的是我們公司目前的狀況以及未來的發展方向都充滿信心。今年我們的業務發展強勁，成長顯著，預計2021財年將實現11%的年成長。我們推出了多款優秀的新遊戲，包括FIFA、Madden、Apex Legends和The Sims，這些遊戲都持續推動著我們的成長。今年及以後，我們還擁有進一步拓展業務的機會。我們對即將推出的遊戲主機充滿期待。新硬體歷來都能促進市場成長，也為我們提供了透過次世代遊戲進一步發展FIFA和Madden系列的另一個契機。我們預計在2022財年及以後，隨著體育產品組合的擴展、行動領域的加倍投入、線上服務的拓展以及全新戰地遊戲的推出，我們的業務將繼續保持成長。感謝各位今天的到來。謝謝你的提問。祝你一切安好。非常感謝。

That concludes today's conference call. Thank you, everyone, for joining today. You may now disconnect.

今天的電話會議到此結束。感謝各位的參與。現在可以掛斷電話了。