Advertisement
U.S. markets closed
  • S&P 500

    5,088.80
    +1.77 (+0.03%)
     
  • Dow 30

    39,131.53
    +62.42 (+0.16%)
     
  • Nasdaq

    15,996.82
    -44.80 (-0.28%)
     
  • Russell 2000

    2,016.69
    +2.85 (+0.14%)
     
  • Crude Oil

    76.57
    -2.04 (-2.60%)
     
  • Gold

    2,045.80
    +15.10 (+0.74%)
     
  • Silver

    22.98
    +0.19 (+0.84%)
     
  • EUR/USD

    1.0823
    -0.0005 (-0.04%)
     
  • 10-Yr Bond

    4.2600
    -0.0670 (-1.55%)
     
  • GBP/USD

    1.2673
    +0.0015 (+0.12%)
     
  • USD/JPY

    150.4400
    -0.0600 (-0.04%)
     
  • Bitcoin USD

    51,511.26
    +583.75 (+1.15%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,706.28
    +21.79 (+0.28%)
     
  • Nikkei 225

    39,098.68
    +836.48 (+2.19%)
     

Activision Blizzard's annual sales forecast tops estimates on 'Call of Duty' boost

The entrance to the Activision Blizzard Inc. campus is shown in Irvine, California

(Reuters) - Activision Blizzard Inc on Thursday forecast full-year adjusted revenue above analysts' estimates, driven by strong demand for the latest installment of its blockbuster "Call of Duty" franchise from gamers staying at home during the COVID-19 pandemic.

The company expects full-year adjusted sales to be $8.45 billion, above Wall Street's average estimate of $8.31 billion, according to Refinitiv IBES data.

Shares of the company were up nearly 5% in extended trading.

Videogame makers across the world continue to benefit from the COVID-19 pandemic, which has forced people to remain indoors, leading to a surge in demand from stay-at-home gamers.

In the United States alone, videogame sales jumped 25% year-over-year to $7.7 billion in December and Activision's "Call of Duty: Black Ops Cold War" was the bestseller across all platforms in 2020, according to data from research firm NPD.

Activision said 2020 marked a record year for its "Call of Duty" franchise, which drew more than 100 million monthly active players across all gaming platforms.

The company also forecast first-quarter adjusted revenue to be $1.75 billion, above analysts' average estimate of $1.67 billion, according to Refinitiv data.

Activision's adjusted revenue for the holiday-quarter, ended Dec. 31, was $3.05 billion, above estimates of $2.83 billion, according to IBES data from Refinitiv.

Fourth-quarter net income fell to $508 million, or 65 cents per share, from $525 million, or 68 cents per share, a year earlier.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Ramakrishnan M.)

Advertisement