Activision Blizzard, Inc. (NASDAQ:ATVI) topline falls

Activision Blizzard, Inc. (NASDAQ:ATVI) stock fell 0.56% (As on August 2, 11:39:33 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the second quarter of FY 22 though there is decline in the topline numbers. The company will not be issuing an earnings presentation or holding a conference call with analysts given Microsoft Corp.’s $69 billion, $95-a-share offer to acquire the publisher that has yet to close. In fact, the highest shares have closed since the offer was announced is $82.31, the closing price after the offer was announced in mid-January. In early July, U.K. regulators opened up an antitrust probe into the deal. The acquisition is scheduled to close at the end of Microsoft’s fiscal year ending June 30, 2023. In an odd posturing, Microsoft reportedly told regulators in New Zealand back in June that Activision Blizzard does not produce any “must have” games. The company reported second-quarter net income of $280 million compared with $876 million, in the year-ago period. Net bookings fell to $1.64 billion from $1.92 billion last year. In-game net bookings were $1.20 billion, as compared with $1.32 billion for the second quarter of 2021. For the quarter ended June 30, 2022, overall Activision Blizzard Monthly Active Users (MAUs) were 361 million. Activision Blizzard generated $198 million in operating cash flow for the quarter as compared with $388 million for the second quarter of 2021.

AAPL in the second quarter of FY 22 has reported the adjusted earnings per share of 48 cents, which is inline with the analysts’ estimates for the adjusted earnings per share of 48 cents, according to analysts surveyed by FactSet. The company had reported 15 percent decline in the adjusted revenue of $1.64 billion in the second quarter of FY 22, beating the analysts’ estimates for revenue of $1.57 billion. GAAP net revenues from digital channels were $1.47 billion. GAAP operating margin was 21%.

Meanwhile, during the second quarter, Activision’s Blizzard division released Diablo Immortal, a new mobile entry in the action series. Activision’s Chinese partner NetEase Inc. delayed Diablo Immortal’s launch in the world’s biggest mobile app market by about a month, saying it needed additional time. It was finally released on July 25. Activision didn’t give revenue figures for the new Diablo game.

Activision expects revenue and earnings per share to “remain lower year-over-year in the second half.

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.