Activision Blizzard Q1 Earnings Take Hit From Weak 'Call of Duty' Demand
Videogame publisher Activision Blizzard missed estimates for first-quarter adjusted sales on Monday, hurt by low demand for its latest title Call of Duty: Vanguard.
Activision's performance has taken a hit from lower premium sales for Call of Duty: Vanguard and weaker engagement in Call of Duty: Warzone, with a return to pre-pandemic habits pressing gamers to spend less time on their consoles.
The company, which is being taken over by Microsoft, has also been facing backlash over its response to allegations of internal sexual harassment and discrimination against female employees.
The Santa Monica, California-based company's quarterly adjusted sales stood at $1.48 billion (roughly Rs. 11345.33 crore), compared with analysts' estimates of $1.80 billion (roughly Rs. 13798.378 crore), according to Refinitiv IBES data.
Net income for the quarter ended March 31 fell to $395 million (roughly Rs. 3027.977 crore), or 50 cents per share, from $619 million (roughly Rs. 4744.480 crore), or 79 cents per share, a year earlier.
Excluding items, Activision earned 64 cents per share.
© Thomson Reuters 2022
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