Activision Blizzard, Seeing Higher Gaming Demand During Pandemic, Raises Annual Guidance -- Earnings Review
August 04 2020 - 4:34PM
Dow Jones News
By Maria Armental
Activision Blizzard Inc., the company behind gaming franchises
like Call of Duty, Candy Crush, and World of Warcraft, again raised
financial projections for the year, following
stronger-than-expected second-quarter results driven by higher
engagement amid the coronavirus pandemic. Here's what you need to
know:
PROFIT: Net income rose to $580 million, or 75 cents a share,
from $328 million, or 43 cents a share, a year earlier. On an
adjusted basis, profit rose to 81 cents a share from 53 cents a
share a year earlier. The company projected 54 cents a share, or 64
cents a share on an adjusted basis.
REVENUE: Revenue rose to $1.93 billion from $1.4 billion a year
earlier, above the company's forecast of $1.69 billion.
BOOKINGS: Activision reported $2.08 billion in net bookings for
the June quarter, compared with $1.21 billion for the comparable
period a year earlier.
MAU: The company reported 428 million monthly active users.
OUTLOOK: The company now expects $2.46 a share in profit this
year, or $2.87 a share on an adjusted basis, on $7.28 billion in
revenue. It earlier projected $2.22 a share in profit, or $2.62 a
share on an adjusted basis, on $6.8 billion in revenue. Net
bookings are now expected to be about $7.63 billion, up from its
earlier view of about $6.9 billion.
PANDEMIC: Company officials have pointed to uncertainty about
the business impact but said higher demand has helped results thus
far and that they expect to launch major new content into key
franchises in the second half of the year, "creating the
opportunity for strong financial performance."
(END) Dow Jones Newswires
August 04, 2020 16:19 ET (20:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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