Activision Blizzard, Inc. (NASDAQ: ATVI) reported third quarter financial results. Net revenue for q3 reached USD 1.2 Billion, beating the anticipated USD 1.1 Billion. This was lower than the net revenue of USD 1.5 Billion a year prior.
Third quarter results beat estimations due to an increased demand for highly anticipated releases Call of Duty and World of Warcraft. Q4 began with successful launches in Call of Duty Mobile and Call of Duty Modern Warfare.
Monthly active users for Activision reached 36 million as Call of Duty Black Ops 4 performed well in the third quarter. For Blizzard, monthly active users reached 33 million as World of Warcraft Classic pushed the highest quarterly increase in subscription plans in the franchise’s history. King reached 247 million monthly active users where Candy Crush user base increased year over year due to the Candy Crush Friends Saga that began in October 2018. Within U.S. mobile app stores, Candy Crush continues its legacy as top grossing franchise.
“Our third quarter results exceeded our prior outlook for both revenue and earnings per share,” said Bobby Kotick, Chief Executive Officer of Activision Blizzard. “Recent launches have enabled significant growth in the size of our audiences for our Call of Duty® and World of Warcraft® franchises. As we introduce mobile and free-to-play games based on our franchises we believe we can increase audience size, engagement and monetization across our wholly owned franchises. With a strong content pipeline and momentum in mobile, esports and advertising, we are confident we will remain a leader in connecting and engaging the world through epic entertainment.”