ACTIVISION BLIZZARD, INC.

(ATVI)
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Delayed Nasdaq  -  04:00 2022-08-12 pm EDT
80.79 USD   +0.35%
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Activision misses quarterly adjusted sales estimates on subdued demand

02/03/2022 | 04:35pm EDT
FILE PHOTO: The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles

Feb 3 (Reuters) - Activision Blizzard Inc, which is being acquired by Microsoft Corp for $68.7 billion, missed market estimates for fourth-quarter adjusted sales on Thursday, as the pandemic-fueled sales boost for its games such as "Call of Duty" showed signs of cooling.

Videogame sales in the United States surged since the start of the pandemic, as people were forced to stay at home amid restrictions on movement to curb the spread of the virus. According to data from research firm NPD, total consumer spending on video games reached a record $60.4 billion in 2021, 8% higher than in 2020.

However, a vaccine-aided return of pre-pandemic habits such as eating in restaurants and meeting in person have hit that momentum.

The videogame publisher said net bookings for "Call of Duty" on console and PC declined year-over-year in the fourth quarter, reflecting lower premium sales for "Call of Duty: Vanguard" compared with the previous edition and lower engagement in "Call of Duty: Warzone."

Rival Electronic Arts Inc on Tuesday had lowered its annual adjusted sales forecast and missed quarterly estimates with fewer consumers picking up new gaming titles.

Activision's quarterly adjusted sales stood at $2.49 billion, compared with analysts' estimates of $2.82 billion, according to Refinitiv IBES data.

Net income for the quarter rose to $564 million, or 72 cents per share, in the quarter ended Dec. 31, from $508 million, or 65 cents per share, a year earlier.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD, INC. 0.35% 80.79 Delayed Quote.21.43%
ELECTRONIC ARTS INC. 1.30% 131.37 Delayed Quote.-0.40%
MICROSOFT CORPORATION 1.70% 291.91 Delayed Quote.-13.20%
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Financials (USD)
Sales 2022 8 063 M - -
Net income 2022 1 912 M - -
Net cash 2022 8 364 M - -
P/E ratio 2022 33,9x
Yield 2022 0,61%
Capitalization 63 203 M 63 203 M -
EV / Sales 2022 6,80x
EV / Sales 2023 5,42x
Nbr of Employees 9 800
Free-Float 64,0%
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Number of Analysts 25
Last Close Price 80,79 $
Average target price 93,52 $
Spread / Average Target 15,8%
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Managers and Directors
Robert A. Kotick Chief Executive Officer & Director
Daniel I. Alegre President & Chief Operating Officer
Armin Zerza Chief Financial Officer
Brian G. Kelly Chairman
Frances Fragos Townsend Secretary & Chief Compliance Officer
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