Activision Blizzard has released its latest earnings report and as expected, Call of Duty drove the majority of Activision’s sales. However, King was the most profitable division of the company. Here’s the complete rundown of the earning reports.
Activision Blizzard made $2.38 billion in revenue and $740 million in profit, as announced in the Q1, 2023 financial results. The company made $1.76 billion in revenue and $395 million in profit during last year’s Q1.
Taking these numbers into account, It’s fair to say that it’s been a profitable quarter for Activision Blizzard.
The company also reported having $9.236 billion in cash and equivalents. Activision Blizzard made the most of its money from King, its mobile game division.
King managed to bring in $739 million during Q1 2023, as compared to Activision’s $580 million and Blizzard’s $443 million.
Evidently, mobile was the company’s most profitable aspect when taking into account revenue by platform, as it amassed $956 million. PC churned out $666 million, followed closely by console, which brought in $639 million.
Activision Blizzard made 91% of its revenue ($2.157 billion) through digital channels, whereas 4% ($104 million) came from retail. The remaining 5% of revenue ($122 million) came from the “other” category.
Activision’s sales were driven by Call of Duty: Modern Warfare 2. The company also reported that in-game spending grew “strongly” year-over-year for the Call of Duty franchise.
The company has once again stated that it will be releasing a “full” Call of Duty game this year, but there’s been no information released about it yet.
Blizzard launched the World of Warcraft: Dragonflight expansion in November 2022, which has contributed to the company’s revenue.
King’s in-game spending increased by 11%, mostly due to the immensely popular Candy Crush series.
Activision reported 98 million monthly active users, while Blizzard’s products have 27 million users. Both numbers pale in comparison to King’s 243 million monthly active users. In total, the company recorded 368 million monthly active users.
Blizzard reported a year-over-year increase in monthly active users, while both Activision and King saw a decline in that aspect.
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