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#Activision Blizzard sales miss on weak ‘Call of Duty’ demand

“Activision Blizzard sales miss on weak ‘Call of Duty’ demand”

Videogame publisher Activision Blizzard missed estimates for first-quarter sales on Monday, hurt by low demand for its latest title “Call of Duty: Vanguard.”

Activision’s performance has taken a hit from lower premium sales for “Call of Duty: Vanguard” and weaker engagement in “Call of Duty: Warzone,” with a return to pre-pandemic habits pressing gamers to spend less time on their consoles.

The company, which is being taken over by Microsoft, has also been facing backlash over its response to allegations of internal sexual harassment and discrimination against female employees.

The Santa Monica, California-based company’s sales were $1.77 billion for the quarter, a 22% decline and short of analysts’ expectations of $1.82 billion.

Net income for the quarter ended March 31 fell to $395 million, or 50 cents per share, from $619 million, or 79 cents per share, a year earlier.

Excluding items, Activision earned 64 cents per share.

Activision logo
Sales were $1.77 billion for the quarter, short of analysts’ expectations of $1.82 billion.
REUTERS

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