Activision Blizzard (ATVI) Q1 Results

A crowd waits for a video presentation at Activision’s booth during the Electronic Entertainment Expo, known as E3, in Los Angeles, California.

Jonathan Alcorn | Reuters

Video game publisher Activision Blizzard missed estimates for adjusted first-quarter sales on Monday, hurt by weak demand for its latest title, Call of Duty: Vanguard.

Activision’s performance was impacted by lower premium sales for Call of Duty: Vanguard and weaker engagement in Call of Duty: Warzone, with the return to pre-pandemic habits pushing players to spend less time on their consoles spend.

The company, which is being acquired by Microsoft, has also faced backlash for its response to allegations of internal sexual harassment and discrimination against female employees.

The Santa Monica, Calif.-based company’s adjusted quarterly revenue was $1.48 billion, according to Refinitiv IBES data, compared to analyst estimates of $1.80 billion.

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

Excluding the article, Activision earned 64 cents per share. Activision Blizzard (ATVI) Q1 Results

Gary B. Graves

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