By Yasin Ebrahim
Investing.com - Activision Blizzard (NASDAQ:ATVI) reported Tuesday third-quarter results that beat analysts' forecasts and in-line revenue following a slowdown in monthly active users amid the reopening of the economy.
Activision Blizzard shares gained 0.89% in after-hours trade following the report.
Activision Blizzard announced earnings per share of 72 cents on revenue of $1.88 billion. Analysts polled by Investing.com anticipated EPS of.69 cents on revenue of $1.88 billion.
"Segment revenue was lower year-over-year in the third quarter due to the launch of Tony Hawk’s Pro Skater 1 + 2 in the year ago quarter and declines in Call of Duty against a quarter that benefited from shelter-at-home mandates and the early ramp of Warzone," the company said.
Q3 monthly active users were 390M, short of the 408M seen in Q2.
Net bookings, the number of products and services sold digitally or sold-in physically, rose to $1.88B from $1.77B in the prior-year period, with in game booking flat at $1.2B.
For Q4, net bookings was guided to $2.78 billion, below expectations for $2.92 billion, and maintained at $8.65 billion for the full year, below expectations for $8.79 billion.
"We are excited about this week’s Call of Duty launch and expect continued success in the fourth quarter." the company said.
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