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Activision Blizzard Reports In-Line EPS as Revenue Tops Estimates in Q2

By Yasin Ebrahim

Investing.com -- Activision Blizzard reported in-line second-quarter earnings, and revenue that topped Wall Street estimates even as a deteriorating macroeconomic environment weighed on video game demand.

Activision Blizzard (NASDAQ:ATVI) was up 0.3% in aftermarket hours following the report.

The gaming publisher reported in-line second-quarter earnings per share of $0.48 on revenue of $1.64 billion, which was ahead of expectations for $1.57 billion.

Net bookings, the number of products and services sold digitally or sold-in physically, fell to $1.64 billion from $1.94 billion in the prior-year period.

Performance was hurt by lower engagement for the company's Call of Duty franchise, Activision Blizzard said.

The company also provided an update on its impending takeover by Microsoft, with the $95 per share deal likely to close in Microsoft’s fiscal year ending June 30, 2023.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.