King, Blizzard pushes Activision Blizzard to third quarter growth

Activision Blizzard today reported its third-quarter financial results showing a drop in sales for the Call of Duty-powered Activision division, offset by progress in the Blizzard and King segments.

For the three months ending September 30, Activision Blizzard reported revenue growth of 6% year-on-year to $ 2.07 billion, with net bookings up 6% to $ 1.88 billion.

The bottom line also moved upward, with net income rising 5% to $ 639 million.

The biggest gains were reported by the King division, which saw its flagship app Candy Crush grow 20% year-over-year, while the segment’s net revenue rose 22% to a new quarterly record of $ 652 million.

Net sales in the Blizzard segment also increased by 22% to $ 478 million, mainly driven by the launch of Diablo 2: Resurrected.

However, the Activision segment dominated by Call of Duty showed net revenue down 17% year-over-year to $ 641 million

“Segment revenue was lower year-on-year in the third quarter due to the launch of Tony Hawks Pro Skater 1 + 2 in the quarter last year and a decline in Call of Duty compared to a quarter that benefited from mandates for shelter and the early ramp in Warzone, “said the publisher.

One place where Activision outperforms its sister segments is the number of monthly active users, with the Call of Duty division raising MAUs by 7% year-on-year to 119 million. Blizzard’s MAUs fell 13% to 26 million, while the Kings’ fell 2% to 255 million.

Overall, Activision Blizzard saw its MAUs flat year-on-year at $ 390 million, the lowest result in the last four quarters.

“I’m pleased to report strong third quarter results ahead of our past outlook,” said Activision Blizzard CEO Bobby Kotick. “We are excited about this week’s Call of Duty launch and expect continued success in the fourth quarter.”

For the fourth quarter, Activision Blizzard forecasts that net revenue will fall by 16% year-on-year to $ 2.02 billion, and net reservations will fall by 9% to $ 2.78 billion, with earnings per share. share fell 17% to $ 0.54.

The company also reiterated its recently unveiled new workplace policies and commitment to a safe and inclusive work environment following a wave of lawsuits centered on allegations of discriminatory practices by the publisher.

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