Activision Blizzard Posts Higher 3Q Profit, Sales

   By Kimberly Chin 
 

Strong sales at Activision Blizzard Inc. helped propel its bottom line as people continue to find ways to entertain themselves and connect with others during the pandemic.

The videogame company posted a net profit of $604 million, or 78 cents a share, up from $204 million, or 26 cents a share, a year ago. Adjusted earnings were 88 cents a share. Analysts polled by FactSet were looking for adjusted earnings of 65 cents a share.

Net revenue climbed 52% from the year-earlier quarter to $1.95 billion, topping analysts' projections of $1.81 billion.

Net bookings, a key metric that looks at the amount of products and services sold digitally or sold-in physically in the period, rose 46% to $1.77 billion.

The company said it had 390 million monthly active users in the September quarter, down from 428 million in the June quarter, but higher than the 316 million in the comparable quarter last year.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

October 29, 2020 16:19 ET (20:19 GMT)

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