Activision Blizzard Exceeds Q1 Revenue Expectations, Nets $619M Profit – The Esports Observer
Activision Blizzard said Tuesday that Call of Duty and its mobile division King helped drive financial results for Q1 2021 well beyond analysts’ expectations. In Q1 Activision Blizzard reported revenue of $2.28B USD, well above its prior outlook of $2.02B, up 27.2% compared to $1.79B in the same period of last year.
The company revealed that the increase in revenues was primarily driven by its popular shooter series, Call of Duty, with its 2020 releases Warzone and Black Ops Cold War. In total the Activision Publishing business vertical increased its revenues by 72% year-over-year and drove monthly active users to 150M in Q1.
In total, the company recorded a quarterly net income of $619M or $0.79 earnings per share (EPS), up 22.6% compared to $505M in Q1 2020.
Note: A more robust analysis of Activision Blizzard’s Q1 2021 results from TEO is forthcoming.
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