Activision revenue beats estimates on higher investments

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.

 

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.

GTA 5 Online Casino update is out Next Week

Grand Theft Auto players have been looking forward to getting into gambling. The good news is that the players of Grand Theft Auto Online are not going to have to wait for long to get their hands the Casino DLC. On the 18th of July, Rockstar Games came up with a new trailer concerning the release of the Casino DLC. 

The GTA 5 Online Casino DLC will have a release date of  Tuesday July 23 on PS4, Xbox One and PCs . At the new GTA Casino in Vinewood Grand Theft Auto 5 Online players will be able to try their luck at traditional casino games like blackjack, roulette and on the slot machines.The GTA Casino also features a Penthouse area with VIP lounges, and the DLC will also bring with it the brand new Truffade Thrax super-car.

In addition to the new games, the developer also allows the player in gaining access to more of a customizing Master Penthouse. There is a slight catch when it comes to the Master Penthouse, and that is only the VIP members can access the play area. The Penthouse grants a new set of co-op missions, where you'll work with casino owner Tao Cheng to keep the place safe from rich, threatening Texans. Completing all the missions here will unlock a new vehicle for free, although Rockstar doesn't say what it is.

Rockstar hasn’t said if chips will be purchasable with real money, but in Red Dead Online, players gamble with in-game cash that can only be earned by playing the game, not by micro-transactions. Given internet gambling laws, it’s likely Rockstar will employ the same method in GTA Online. This way, players can’t spend real money or win fake money that is worth real cash in the casino. We’ve reached out to Rockstar for clarification.

Rockstar has been teasing the casino for a while, and it’s something players have wanted since GTA Online’s launch. While things in the casino update sound exciting and fun, they also sound extremely pricey: A private arcade, artwork, fancy clothing, and personal cinema certainly won’t come cheap. Hopefully exploring the casino and playing some games won’t cost an arm and a leg.