Games

Activision Blizzard Q1 Earnings Report Shows Notable Drops, Blizzard Upbeat On Upcoming Releases

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Activision Blizzard released its earnings details for the first quarter and there were some notable declines. although there was a small increase in monthly active users (MAUs) to 371 million from 372 million in Q4 2021.

As of the first quarter of this year, Activision Blizzard’s net revenue was $1.77 billion, compared to the first quarter of 2021, where that figure was $2.28 billion. Earnings per diluted share of the company’s stock fell to $0.64 from $0.98 a year earlier. A further decline was recorded in operating cash flow. This year’s first quarter totals were $642 million, while the first quarter of 2021 reported operating cash flow of $844 million.

Other notable details include the decline from year to year when it comes to “lower scores for call of Duty and product cycle timing at Blizzard, offsetting robust growth at King. The Company has incurred an increase in attorneys’ and other professional fees, primarily due to costs related to our proposed transaction with Microsoft. We continue to increase investment in our development resources to meet player demand and increased our developer headcount by several hundred in the first quarter.”

When it comes to what they call in-game net bookings, microtransactions, DLC and other in-game spend, that was $1.01 billion compared to $1.34 billion in the first quarter last year. Total net bookings, which includes products and services including games, fell to $1.48 billion from $2.07 billion last year.

However, the press release accompanying the report contains some hopeful signs that Activision Blizzard is looking to for a turnaround. The second quarter marks the beginning of a period of planned major releases across Blizzard’s portfolio. This concludes today’s announcement of the Diablo immortal Release on June 2nd on mobile and PC, and the announcement that the public open beta will start tomorrow monitor 2 PVP. Additionally, diablo 4 is listed as well under development, and they also point to expansion announcements and releases, such as the latest ones Hearthstone Extension, journey to the sunken city, and the new World of Warcraft: Dragonflight expansion, as well as the forthcoming one Warcraft mobile announcement.

Due to the planned Microsoft acquisition, Activision Blizzard did not hold a conference call or presentation, so the information was limited to a press release. Visit Activision Blizzard’s Investors Page for more information.

https://www.mmorpg.com/news/activision-blizzard-q1-earnings-report-shows-notable-drops-blizzard-optimistic-about-upcoming-releases-2000124880 Activision Blizzard Q1 Earnings Report Shows Notable Drops, Blizzard Upbeat On Upcoming Releases

Fry Electronics Team

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