Activision Announces Better-Than-Expected Results for First Quarter of 2019

Activision Announces Better-Than-Expected Results for First Quarter of 2019

Activision Announces Better-Than-Expected Results for First Quarter of 2019

With team slots in the Overwatch League sold for $20 million and later expansion slots priced between $30 and $60 million, it's not hard to see how the franchise strategy appeals to Activision Blizzard's accountants.

Activision Blizzard delivered approximately United States dollars 800 Million of in-game net bookings in the quarter.

In fact, Activision should be lifting the lid on the new project any time before the end of the third quarter of the current financial year. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.04 billion.

2019's Call of Duty, which is rumored to be Modern Warfare 4, is going to bring "game-changing" experiences via its launch and post-launch content, according to Activision Blizzard's President and Chief Operating Officer, Collister Johnson.

In 2016, Activision made a decision to take things in-house, organising its own league called the Call of Duty World League. KeyCorp decreased their price target on Activision Blizzard from $80.00 to $64.00 and set an overweight rating for the company in a report on Friday, January 11th. Call of Duty: Mobile will debut in North America, South America, and Europe later this year, and Candy Crush Friends Saga has driven King's growth.

For period that ended on March 31, the gaming company post GAAP earnings of $1.825 billion beating the firm pervious outlook of $1.715 billion; however the amount is less from the $1.965 billion the firm grossed during 2018's first quarter. Bobby Kotick, CEO of Activision Blizzard, stressed the importance of familiarity in creating the league.

Analysts suggested that the company not raising its guidance despite a healthy first-quarter earnings beat and not revealing any new game plans for the next year may have disappointed investors.

While Call of Duty: Black Ops 4 is a solid game, the way microtransactions is handled in the game leaves a lot to be desired.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. That's right - they think these 10 stocks are even better buys. The Motley Fool owns shares of and recommends Activision Blizzard and Tencent Holdings. The Motley Fool has a disclosure policy.

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