Activision Blizzard Posts Higher 3Q Profit, Sales
October 29 2020 - 4:34PM
Dow Jones News
By Kimberly Chin
Strong sales at Activision Blizzard Inc. helped propel its
bottom line as people continue to find ways to entertain themselves
and connect with others during the pandemic.
The videogame company posted a net profit of $604 million, or 78
cents a share, up from $204 million, or 26 cents a share, a year
ago. Adjusted earnings were 88 cents a share. Analysts polled by
FactSet were looking for adjusted earnings of 65 cents a share.
Net revenue climbed 52% from the year-earlier quarter to $1.95
billion, topping analysts' projections of $1.81 billion.
Net bookings, a key metric that looks at the amount of products
and services sold digitally or sold-in physically in the period,
rose 46% to $1.77 billion.
The company said it had 390 million monthly active users in the
September quarter, down from 428 million in the June quarter, but
higher than the 316 million in the comparable quarter last
year.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 29, 2020 16:19 ET (20:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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