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Wednesday, Jun 19, 2024
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Blizzard Entertainment Parent’s 4Q Revenue Down, EPS Up

The parent company of video game maker Blizzard Entertainment of Irvine said fourth-quarter net revenue fell year-over-year, while adjusted earnings per share were up 33%.

Activision Blizzard (Nasdaq: ATVI) said net revenue in the final three-month period of 2021 was almost $2.2 billion, down from $2.4 billion in the year-ago period. Adjusted earnings per share were $1.01, up from 76 cents a year ago.

Microsoft Inc. (Nasdaq: MSFT) said last month it plans to buy Activision Blizzard for $68.7 billion.

“As we look to the future, with Microsoft’s scale and resources, we will be better equipped to grow existing franchises, launch new potential franchises and unlock the rich library of games we have assembled over 40 years,” Activision Blizzard CEO Bobby Kotick said in today’s earnings release.

Due to the pending transaction, Santa Monica-based Activision Blizzard did not provide financial guidance or hold a post-release conference call.

Blizzard Entertainment is Orange County’s largest software company by headcount, with approximately 2,700 local employees.

Shares in Activision Blizzard rose 0.2% to $79.10 apiece for a market cap of $62 billion in after-hours trading, following the earnings release.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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