Activision Blizzard reported Q2 2022 revenue that beat analysts’ estimates, but adjusted sales declined 15 percent from a year ago due to a soft Call of Duty launch last fall and a slow year for the gaming industry overall.
Activision Blizzard, the biggest US video game publisher, reported revenue that beat analysts’ estimates, but adjusted sales declined 15 percent from a year ago due to a soft Call of Duty: Vanguard launch last fall and a slow year for the gaming industry overall. Activision, which is in the process of being acquired by Microsoft, brought in adjusted revenue in the second quarter of $1.64 billion (roughly Rs. 13,000 crore), compared with the average analyst’s projection for $1.6 billion (roughly Rs. 12,600 crore). Adjusted revenue excludes deferred sales from online purchases. Adjusted earnings per share were 47 cents (roughly Rs. 0.3), almost 50 percent lower than a year earlier and slightly below analysts’ estimates, according to data compiled by Bloomberg.
Last fall’s Call of Duty: Vanguard, which Activision said hasn’t performed as well as anticipated, has had a ripple effect on the company’s fiscal year. The game received negative reviews and faced stiff competition from new entries in the popular Halo and Battlefield series.
During the second quarter, Activision’s Blizzard division released Diablo Immortal, a new mobile entry in the action series.
