Activision Blizzard Beats Second Quarter Expectations

Video game publisher

Video game publisher Activision Blizzard, Inc. (NASDAQ: ATVI) announced results for the second quarter that beat Wall Street’s targets. The company says that the quarter outperformed its expectations despite net revenue and net bookings both down year-over-year. Chief Executive Officer Bobby Kotick said, “Our second quarter results exceeded our prior outlook for both revenue and earnings per share.”

For the quarter ended June 30, 2019, Activision Blizzard earned an adjusted 38 cents a share on net bookings of $1.21 billion. Analysts expected earnings of 26 cents a share on sales of $1.19 billion. In the same quarter of last year, the company earned 41 cents a share on net bookings of $1.39 billion. Net revenue was $1.4 billion, down from last year’s $1.6 billion but still higher than its $1.3 billion prediction for the quarter.

The company reported 327 million monthly active users this quarter. Candy Crush franchise users grew year-over-year, helped by the addition of Candy Crush Friends Saga. Users also grew year-over-year for the Call of Duty franchise. The number of Overwatch users remained stable quarter-over-quarter, and Hearthstone users grew after the release of the Rise of Shadows expansion and The Dalaran Heist single-player Adventure.

Activision saw $800 million in net bookings from in-game transactions. The company expects to generate net bookings of $1.1 billion in the third quarter and $6.08 billion for the full year. Wall Street was looking for net bookings of $1.36 billion for the third quarter and $6.38 billion for the year.

, Inc. (NASDAQ: ATVI) announced results for the second quarter that beat Wall Street’s targets. The company says that the quarter outperformed its expectations despite net revenue and net bookings both down year-over-year. Chief Executive Officer Bobby Kotick said, “Our second quarter results exceeded our prior outlook for both revenue and earnings per share.”

For the quarter ended June 30, 2019, Activision Blizzard earned an adjusted 38 cents a share on net bookings of $1.21 billion. Analysts expected earnings of 26 cents a share on sales of $1.19 billion. In the same quarter of last year, the company earned 41 cents a share on net bookings of $1.39 billion. Net revenue was $1.4 billion, down from last year’s $1.6 billion but still higher than its $1.3 billion prediction for the quarter.

The company reported 327 million monthly active users this quarter. Candy Crush franchise users grew year-over-year, helped by the addition of Candy Crush Friends Saga. Users also grew year-over-year for the Call of Duty franchise. The number of Overwatch users remained stable quarter-over-quarter, and Hearthstone users grew after the release of the Rise of Shadows expansion and The Dalaran Heist single-player Adventure.

Activision saw $800 million in net bookings from in-game transactions. The company expects to generate net bookings of $1.1 billion in the third quarter and $6.08 billion for the full year. Wall Street was looking for net bookings of $1.36 billion for the third quarter and $6.38 billion for the year.

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