Activision Blizzard Q4 results beat Wall Street estimates

By Yasin Ebrahim

Investing.com -- Activision Blizzard (NASDAQ:ATVI) reported fourth-quarter results that beat Wall Street estimates just as the video game maker's sale to Microsoft (NASDAQ:MSFT) is expected to face more headwinds.   

Activision Blizzard was up 0.8% in aftermarket hours following the report.

The gaming publisher reported Q4 earnings per share of $1.87, which was above expectations for $1.51 a share. Net bookings, the number of products and services sold digitally or sold physically, was $3.57 billion beating estimates of $3.19B.

"We ended 2022 with record quarterly net bookings as we delivered on our mission to bring epic joy to players," the company said.

The quarterly results come as the focus for Activision Blizzard remains on its impending $69B sale to Microsoft. But regulatory concerns over potential antitrust practices from Microsoft has made it challenging to wrap up the deal.        

Microsoft reportedly expects the UK's competition watchdog to oppose its $69B deal to take over the video game company.

The deal with Microsoft will "enable us to better serve our players, create greater opportunities for our employees, and allow us to succeed in an increasingly competitive global gaming industry," Activision said.