By Kimberly Chin

Activision Blizzard Inc. provided a weaker-than-expected full-year forecast but its second-quarter outlook beat analysts' expectations as the company increases its investment in some of its most popular video game franchises to keep users engaged and connected.

The videogame company expects revenue around $8.37 billion this year. Analysts polled by FactSet were projecting $8.53 billion

Activision projects full-year earnings of $2.91 a share, or $3.42 a share as adjusted. Analysts were predicting $3.16 a share and $3.67 a share as adjusted.

For the current quarter, Activision expects revenue around $2.14 billion, ahead of analysts' consensus forecast of around $1.81 billion.

It also expects second-quarter earnings to be around 81 cents a share and adjusted earnings around 91 cents a share. Analysts were looking for 72 cents a share and 75 cents a share on an adjusted basis.

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

May 04, 2021 16:19 ET (20:19 GMT)

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