Activision Blizzard, Inc. (NASDAQ: ATVI) announced third-quarter 2018 results. “Activision Blizzard’s results for Q3 exceeded our prior outlook as we continue to entertain large audiences, drive deep engagement, and attract significant audience investment across our franchises,” said Bobby Kotick, Chief Executive Officer of Activision Blizzard. “Our unique advantage continues to be our ability to create the most compelling interactive and spectator entertainment based on our own franchises, combined with our direct digital connection to hundreds of millions of customers, in over 190 countries. With these competitive advantages we continue to connect and engage the world through epic entertainment.”
Activision Blizzard’s net bookings were $1.66 billion, as compared with $1.90 billion for the third quarter of 2017. Net bookings from digital channels were $1.44 billion, as compared with $1.47 billion for the third quarter of 2017. Activision Blizzard delivered $1 billion of in-game net bookings in the third quarter and a record $3 billion year-to-date. Activision Blizzard’s net revenues presented in accordance with GAAP were $1.51 billion, as compared with $1.62 billion for the third quarter of 2017. GAAP net revenues from digital channels were $1.28 billion. GAAP operating margin was 18%. GAAP earnings per diluted share were $0.34, as compared with $0.25 for the third quarter of 2017.
For the quarter ended September 30, 2018, on a non-GAAP basis, Activision Blizzard’s operating margin was 27% and earnings per diluted share were $0.42, as compared with $0.47 for the third quarter of 2017.
Activision Blizzard had 345 million Monthly Active Users (MAUs) in the quarter. Activision share value fell over 10% post announcement.