Activision Blizzard hits financial targets with Q2 bookings of $1.64B
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Activision Blizzard reported that its Q2 bookings hit $1.64 billion, slightly better than expected by analysts, while earnings hit the mark exactly.
The company said that its Activision, Blizzard and King divisions all grew in the second quarter compared to the first quarter, and it touted a strong slate for the second half. Microsoft has announced it expects its $68.5 billion acquisition of Activision Blizzard will be approved by regulators in the current fiscal year ending June 30, 2023. In after-hours trading, the stock is up slightly at $80.32 a share.
“Our acquisitions this past quarter of Proletariat and Peltarion further boost our development resources, including our artificial intelligence and machine learning capabilities,” said Bobby Kotick, CEO of Activision Blizzard, in a statement. “Even in a challenging economic environment, with so many companies announcing hiring freezes and layoffs, our development headcount grew 25% year-over-year as of the end of the second quarter. Our talented teams are planning to release exciting new Call of Duty, World of Warcraft and Overwatch content later this year. Of course, we look forward to completing our pending $95 per share all-cash transaction with Microsoft as soon as possible.”
The company’s previously announced titles are still coming in on schedule, with Call of Duty: Modern Warfare II releasing on October 28 as a sequel to 2019’s Modern Warfare, the most successful Call of Duty title to date. Call of Duty: Warzone 2.0 is also coming later this year, with no specific date yet.
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