Activision Blizzard Beats Guidance Ahead Of Infinite Warfare Launch
Activision Blizzard (NYSE:ATVI) surpassed its own guidance for Q3 earnings, reporting 58% growth in revenues to $1.57 billion. with a 53% increase in earnings per share to $0.26. The future for the company looks promising, considering that these strong results have come in just a day before the release of much awaited “Call of Duty: Infinite Warfare”. Active monthly users for both Activision and Blizzard hit a record during the quarter, reaching 46 million and 42 million, respectively. Key gamse driving the growth were “Overwatch”, “Legion” and significant in-game purchases for “Call of Duty”. Backed by strong results, the launch of “Infinite Warfare”, “Skylanders: Imaginators” and the Netflix series “Skylanders Academy”, the company raised its annual guidance to revenues of $6.45 billion and EPS of $0.98. Though much of the company’s growth for the year will be attributed to the acquisition of King Digital, the strength of the content launched during the year cannot be ignored. Activision should take heart of the fact that it has managed to keep excitement around the launch and new expansion of its successful franchise names running, even though the buzz usually dies off after a while.
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