Activision Blizzard 3Q Profit, Revenue Lower But Above Expectations
November 07 2022 - 4:47PM
Dow Jones News
By Denny Jacob
Activision Blizzard Inc. said lower profit and sales in the
latest quarter reflected reduced engagement for its Call of Duty
videogame series following weaker reception for last year's premium
release.
The videogame company recorded net income of $435 million, or 55
cents a share, for the third quarter ended Sept. 30, from $639
million, or 82 cents a share, a year earlier. Adjusted earnings
were 68 cents a share, above analysts' estimates of 50 cents.
Revenue declined to $1.78 billion from $2.07 billion. Analysts
polled by FactSet expected $1.7 billion.
The Santa Monica, Calif.-based company said it expects segment
revenue and operating income to return to year-over-year growth in
the fourth quarter following the launch of its latest videogame in
its Call of Duty series.
Activision in January agreed to be acquired by Microsoft Corp.
for $75 billion.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 07, 2022 16:32 ET (21:32 GMT)
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