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Activision Blizzard Bookings Beat Estimates on Call of Duty

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Activision Blizzard Inc. reported bookings that beat analysts' estimates on the strength of a new Call of Duty release as well as several other big titles.

The video game publisher, which is in the process of being purchased by Microsoft Corp. for $69 billion, reported net bookings rose 43% to $3.57 billion in the fourth quarter.

Analysts had estimated $3.08 billion, according to data compiled by Bloomberg. It was the biggest jump in bookings in nine quarters and signals a rebound for the gaming industry after a sluggish 2022.

Adjusted earnings per share were $1.87 in the three months ended Dec. 31, compared with estimates of $1.52. In October, Activision released Call of Duty: Modern Warfare II, the latest entry in the lucrative shooter series.

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