(Correction: The figures for monthly active users have been corrected).
By Yasin Ebrahim
Investing.com - Activision Blizzard (NASDAQ:ATVI) reported on Thursday fourth-quarter results that missed analysts' forecasts as net bookings were hampered by lower than expected performance in its Activision business.
Activision Blizzard announced earnings per share of $1.25 on revenue of $2.49B. Analysts polled by Investing.com anticipated EPS of $1.31 on revenue of $2.83B.
Activision Blizzard shares were flat in after-hours trade following the report.
Net bookings, the number of products and services sold digitally or sold-in physically, were $2.49 billion, down from $3.05 billion a year earlier, and below guidance of $2.78 billion. In-game net slid to $1.24 billion from $1.32 billion.
"Fourth quarter net bookings were below our prior outlook, primarily due to lower than expected performance in the Activision segment, which offset record performance at King. Activision Blizzard’s mobile net bookings grew 18% year-over-year and represented 33% of total net bookings in the fourth quarter," the company said.
Monthly active users were 371 million in Q4, below the 390 million seen in Q3, and the 397 million a year earlier.
The video game results come amid its impending $69 billion sale to Microsoft (NASDAQ:MSFT) expected to close in the latter's fiscal year ending June 30 2023.
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