v3.26.1
Segment and Revenue Information
 12 Months Ended
Mar. 31, 2026
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 March 31, 2026, 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 Consolidated Balance Sheets as total assets.

Information about our single reportable segment net revenue, net income, and significant segment expenses for the fiscal years ended March 31, 2026, 2025, and 2024 is presented below (in millions):
Year Ended March 31,
202620252024
Net revenue$7,531 $7,463 $7,562 
Less:
Cost of revenue (1)
1,536 1,489 1,626 
Research and development (1)
2,361 2,112 2,002 
Marketing and sales (1)
1,071 906 967 
General and administrative (1)
614 625 583 
Acquisition-related expenses (2)
131 107 218 
Restructuring and related charges— 62 64 
Stock-based compensation656 642 584 
Interest and other (income) expenses, net(18)(85)(71)
Provision for income taxes293 484 316 
Net income$887 $1,121 $1,273 
(1) Excludes amounts related to acquisition-related expenses, restructuring and related charges, and stock-based compensation, which are presented separately in the table above.
(2) Includes (i) amortization and impairment of intangibles, and (ii) fees and other direct expenses related to the Merger described in Note 1, which are recorded within General and administrative expenses in the Consolidated Statements of Operations.

Information about our total net revenue by timing of recognition for the fiscal years ended March 31, 2026, 2025, and 2024 is presented below (in millions):
Year Ended March 31,
202620252024
Net revenue by timing of recognition
Revenue recognized at a point in time$2,473 $2,665 $2,563 
Revenue recognized over time5,058 4,798 4,999 
Net revenue$7,531 $7,463 $7,562 
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 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 fiscal years ended March 31, 2026, 2025, and 2024 is presented below (in millions):
 Year Ended March 31,
 202620252024
Net revenue by composition
Full game downloads$1,708 $1,478 $1,343 
Packaged goods440 524 672 
Full game2,148 2,002 2,015 
Live services and other
5,383 5,461 5,547 
Net revenue$7,531 $7,463 $7,562 
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 fiscal years ended March 31, 2026, 2025, and 2024 is presented below (in millions):
Year Ended March 31,
 202620252024
Platform net revenue
Console$4,694 $4,776 $4,632 
PC and other1,746 1,547 1,717 
Mobile1,091 1,140 1,213 
Net revenue$7,531 $7,463 $7,562 
Information about our operations in North America and internationally for the fiscal years ended March 31, 2026, 2025, and 2024 is presented below (in millions):
 Year Ended March 31,
 202620252024
Net revenue from unaffiliated customers
North America$3,034 $3,078 $3,001 
International4,497 4,385 4,561 
Net revenue$7,531 $7,463 $7,562 
 As of March 31,
 20262025
Long-lived assets
North America$463 $438 
International150 148 
Total$613 $586 
We attribute net revenue from external customers to individual countries based on the location of the legal entity that sells the products and/or services. Note that revenue attributed to the legal entity that makes the sale is often not the country where the consumer resides. For example, revenue generated by our Swiss legal entity includes digital revenue from consumers who reside outside of Switzerland, including consumers who reside outside of Europe. Revenue generated by our Swiss legal entity during fiscal years 2026, 2025, and 2024 represents $4,407 million, $4,279 million and $4,374 million or 59 percent, 57 percent and 58 percent of our total net revenue, respectively. Revenue generated in the United States represents over 99 percent of our total North America net revenue. There were no other countries with net revenue greater than 10 percent.
In fiscal year 2026, our direct sales to Sony and Microsoft represented approximately 39 percent and 16 percent of total net revenue, respectively. In fiscal year 2025, our direct sales to Sony and Microsoft represented approximately 39 percent and 17 percent of total net revenue, respectively. In fiscal year 2024, our direct sales to Sony and Microsoft represented approximately 37 percent and 16 percent of total net revenue, respectively.