Activision Blizzard 1Q Profit Lifted By Higher Sales
May 04 2021 - 4:34PM
Dow Jones News
By Kimberly Chin
Activision Blizzard Inc. reported a higher profit in the first
quarter, driven by strong revenue growth as people continued to
find entertainment in its games during the coronavirus
pandemic.
The videogame company recorded earnings of $619 million, up from
$505 million in the same period a year earlier. Per-share profit
was 79 cents, up from 65 cents a year ago. Adjusted earnings were
98 cents a share, ahead of analysts' consensus estimates of 70
cents a share, per a FactSet poll.
Net revenue increased 27% to $2.28 billion from the year-earlier
quarter, topping analysts' projections of $1.78 billion. Revenue
from digital channels was $2.01 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 36% to $2.07 billion compared with last year's first
quarter.
The company said it had 435 million monthly active users in the
March quarter, up from 397 million in the December quarter and
higher than the 407 million in the comparable quarter last
year.
Activision's popular video game franchises include Call of Duty,
World of Warcraft and Candy Crush.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
May 04, 2021 16:19 ET (20:19 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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