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| Source : Internet |
Activision Blizzard recently had their quarterly earnings call where
they said they outperformed their outlook, and yet investors remain
skeptical of their overall game output, which has lagged in recent
years, to say the least. To try and reassure everyone on that front, Activision Blizzard said that they were expanding their development teams across Call of Duty, Candy Crush, Warcraft, Hearthstone, Overwatch and Diablo.
Activision raised its full year forecast for adjusted profit to $2.15 per share, from $2.10, but reaffirmed revenue of $6.30 billion. Analyst were expecting a profit of $2.15 per share and revenue of $3.36 billion, according to IBES data from refinitiv. Activision recorded $1.7 billion in revenue a year ago, bolstered by
expansions in two of its hit video game franchises: "Destiny" and "World
of Warcraft." Wall Street didn't expect Activision's forecast to beat
last year's numbers, but it was hoping for more than $1.1 billion.
Candy Crush remains the top-grossing app in the United States. King, the
developer which makes Candy Crush and is owned by Activision, brought
in revenue of $499 million during the second quarter. Activision's other popular titles
performed well, too. "Call of Duty: Black Ops 4," and "Hearthstone" grew
sales and the number of monthly active users rose on both games. The
company plans to continue expanding upon its well-worn franchises. The Over-watch League is set to hold its grand finals in Philadelphia next
month, with a $1.7 million prize pool between the top two teams.
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| Source : Internet |
"Our second quarter results exceeded our prior outlook for both revenue
and earnings per share," said Bobby Kotick, Chief Executive Officer of
Activision Blizzard. "In the first half of 2019 we have prioritized
investments in our key franchises and, beginning in the second half of
this year our audiences will have a chance to see and experience the
initial results of these efforts." Kotick said.
Overall, the company reported a net income of $328 million in the second quarter, an 18.4% decline compared to last year. Revenue was also on the downturn. Activision recorded $1.4 billion in sales compared to $1.6 billion a year ago.
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