Video game maker Activision Blizzard missed first-quarter adjusted sales estimates on Monday, hurt by weak demand for its latest title Call of Duty: Vanguard.
Activision’s performance suffered from lower premium sales for Call of Duty: Vanguard and lower engagement in Call of Duty: Warzone, with a return to pre-pandemic habits causing players to spend less time on their consoles.
The company, which is being taken over by Microsoft, has also faced backlash following its response to allegations of internal sexual harassment and discrimination against female employees.
The Santa Monica, Calif.-based company’s adjusted quarterly sales came in at $1.48 billion (about Rs 11,345.33 crore), compared to analysts’ estimates of $1.80 billion (about Rs 13798.378 crore), according to Refinitiv IBES data.
Net profit for the quarter ended March 31 fell to $395 million (approx. Rs. 3,027.977 crore), or 50 cents per share, from $619 million (approx. Rs. 4,744.480 crore), or 79 cents per share, a year earlier.
Excluding items, Activision earned 64 cents per share.
© Thomson Reuters 2022
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