Activision Earnings Miss Estimates After Microsoft Deal
- Maker of Call of Duty has been rocked by allegations of sexism
- 2022 is shaping up to be a blockbuster year for gaming deals
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Activision Blizzard Inc. reported earnings and revenue that missed analysts’ estimates just weeks after Microsoft Corp. announced its $69 billion acquisition of the video game publisher.
Adjusted revenue fell 18% to $2.49 billion in the fourth quarter, Activision said in a statement Thursday. Analysts had expected $2.84 billion, according to an average of estimates compiled by Bloomberg. Adjusted earnings per share were $1.25, compared with analysts’ forecasts for $1.31. The company cited “lower than expected performance” in its Activision division, which produces Call of Duty.