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Activision Blizzard sales soar ahead of new Call of Duty release

Friday, November 4, 2016 8:17
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Activision Blizzard’s (NASDAQ:ATVI) next instalment of the best-selling video game Call of Duty has impressed gamers, but its latest results left investors cold.

‘Infinite Warfare’ hit the streets today. It includes cameos from Baywatch star David Hasselhoff and actor Pee-Wee Herman and has already received rave reviews.

Ahead of that Activision’s revenues rose by 58% to US$1.57bn in the three months to September, well ahead of the US$1.49bn forecast by the company last quarter.

Net income jumped 59% to US$199mln.

A World of Warcraft update flew off the online shelves in May while another shoot’em’up game, OverWatch, is now almost as popular as Call of Duty according to Activision.

With a contribution from the new Call of Duty, Activision upped its revenue predicition for the final quarter to US$1.86bn and to US$6.45bn for the full year.

Earnings though won’t match sales and Activision lowered its final quarter forecast to 5c due to debt costs. For the full year earnings should be 98c against 87c.

Analysts suggested the company should be doing even better and shares fell 5% to US$41.21.

Story by ProactiveInvestors


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