Activision Blizzard Misses Earnings Expectations As ‘Call of Duty’ Demand Declines
2022.04.25 17:36
By Sam Boughedda
Investing.com — Activision Blizzard Inc (NASDAQ:ATVI) stock dipped in early Monday trading after the company posted first-quarter earnings and revenue that missed analyst expectations.
The videogame company announced earnings per share of $0.64 on revenue of $1.8 billion. Analysts polled by Investing.com anticipated EPS of $0.70 on revenue of $1.82 billion.
The company’s first-quarter earnings were impacted by Call of Duty net bookings on console and PC declining year-over-year, with lower premium sales for “Call of Duty: Vanguard” and lower engagement in “Call of Duty: Warzone.”
Microsoft (NASDAQ:MSFT) plans to acquire Activision Blizzard for $95 per share in an all-cash transaction, which is expected to close in Microsoft’s fiscal year ending June 30. As a result of the deal, Activision didn’t host a conference call, issue an earnings presentation, or provide financial guidance.
The company’s stock is down 1.5% Monday.
