Activision Blizzard earnings blow away expectations as gamers play through pandemic

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Video game giant Activision Blizzard (ATVI) reported a second quarter profit on Tuesday that exceeded Wall Street sales expectations and raised the full year 2020 forecast. "data-reactid =" 32 "> video game giant Activision Blizzard (ATVI) reported a second quarter profit on Tuesday that exceeded Wall Street sales expectations and raised the full year 2020 forecast.

Here are the key figures from the report compared to the analyst expectations compiled by Bloomberg:

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Revenue: $ 1.93 billion expected vs. $ 1.69 billion. "Data reactid =" 34 ">Revenue: $ 1.93 billion expected vs. $ 1.69 billion.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Earnings per share: $ 0.75 expected vs. $ 0.59. "Data reactid =" 35 ">Earnings per share: $ 0.75 expected vs. $ 0.59.

Activision Blizzard has significantly revised its prospects from $ 6.8 billion to $ 7.3 billion. Gaming saw a massive increase in engagement and revenue due to continued block orders due to the ongoing coronavirus pandemic.

Blizzard's World of Warcraft, which is now almost 16 years old, saw sequential engagement and reach increase over the quarter, while Overwatch, which was launched in 2016, increased engagement over the previous year.

Added to this is Activision Blizzard's King mobile business, where monthly active users for the franchise company "Candy Crush" have increased compared to the previous year and, given the current economic climate, the number of line items has surprisingly increased compared to the previous year. However, the company noted a slowdown in engagement for its mobile games in the second half of the quarter.

In terms of platform performance, console sales for the company were highest at $ 655 million in the quarter, followed by sales of mobile devices at $ 622 million. PC sales were $ 482 million. Sales from the company's sales and esport leagues were $ 173 million.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Take-Two Interactive (TTWO), who reported their profits on MondayRevenue increased 54% to a record $ 831.3 million in the first quarter of 2020. Microsoft (MSFT) reported that its The Xbox business was massive Sales jump 64% year over year, with Xbox hardware sales up 49%. "Data-reactid =" 40 "> Take-Two Interactive (TTWO), who reported their profits on MondaySales increased 54% to a record $ 831.3 million in the first quarter of 2020. Microsoft (MSFT) reported that its The Xbox business was massive Revenue increased 64% year over year, Xbox hardware revenue increased 49%.

This is particularly surprising as Microsoft launches a new console later this year – the Xbox Series X. For current generation consoles like Xbox One, this usually means flat or declining sales.

In & # 39; World of Warcraft & # 39; engagement has also increased sequentially. (Image: Activision Blizzard)

One of the outstanding features of Activision Blizzard was the extremely popular game “Call of Duty: Warzone”, which is available on PlayStation 4, Xbox One and PC. "World of Warcraft", a massive multiplayer role-playing game for the PC; and the smartphone game "Candy Crush".

The company said that Call of Duty: Warzone has reached 75 million players to date and that Warzone players have also updated the free title to the full version of Call of Duty Modern Warfare.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Do you have a tip? Email Daniel Howley at & nbsp;dhowley@yahoofinance.com& nbsp; via encrypted mail to & nbsp;danielphowley@protonmail.comand follow him on Twitter at & nbsp;@ DanielHowley."data-reactid =" 65 ">Do you have a tip? Email Daniel Howley to dhowley@yahoofinance.com via encrypted mail to danielphowley@protonmail.comand follow him on Twitter at @ DanielHowley.

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