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Activision’s Forecast Suggests Covid-19 Boom in Gaming Is Fading
- Conservative outlook for quarter disappoints some investors
- Covid-19 isn’t a major factor in results, CEO Kotick says
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Activision Blizzard Inc. issued a tepid forecast for the fourth quarter that suggests a surge in video-game play linked to the Covid-19 pandemic may be letting up.
The video-game maker, which typically forecasts cautiously, said Thursday revenue in the current period will be $2.73 billion. While that’s above the average Wall Street forecast of $2.59 billion, some estimates were higher. The company also forecast profit of $1.09 a share, excluding some items, exceeding the $1.07 average of analysts’ estimates.