Activision Blizzard (ATVI) Q2 2021 earnings results raise full-year financial outlook
With Activision Blizzard having beaten expectations on quarterly revenue and earnings-per-share in Q2, it has raised its full-year outlook.
With another fiscal quarter drawing to a close for most companies, quarterly financial earnings reports are coming out regularly throughout July and August. Such is also the case in the gaming and tech industry and given the recent news cycle, Activision Blizzard has had a lot of attention on what would be coming its Q2 2021 report. That report came out today, and despite addressing the ongoing matters, Activision Blizzard still reported a strong quarter in both revenue and earnings-per-share, as well as raising outlook on the full year.
Activision Blizzard released its Q2 2021 earnings results on its investor relations website on August 3, 2021. Some the highlights of the Q2 report include exceeding prior outlooks in both net revenue and earnings-per-share in Q2. Activision Blizzard put up a revenue of $2.296 billion USD in Q2 versus an outlook of $2.135 billion. Meanwhile, GAAP earnings per share were reported at $1.12 versus the prior outlook’s $0.81. This has pushed Activision Blizzard to raise its outlook for the overall year. Net revenue outlook has been increased to $8.515 billion USD over the previous outlook of $8.37 billion announced in Q1.
Despite its wins, Activision Blizzard has found itself embroiled in ongoing troubles regarding a lawsuit that was filed by the state of California against the company regarding sexual harassment and workplace toxicity allegations. Activision Blizzard employees engaged in a walkout in response to perceived hollow sentiments and efforts by CEO Bobby Kotick and other company executives following reports of the lawsuit.
To that end, Kotick included another statement in the Q2 2021 earnings results reiterating much of his original address of the matter.
“With respect to our financial performance, we are pleased that the company continued to deliver strong results in the second quarter, and we are raising our outlook for the year. We remain intensely focused on the well-being of our employees and we are committed to doing everything possible to ensure that our company has a welcoming, supportive and safe environment where all of our team members can thrive.” ~ Bobby Kotick
The Q2 report also suggested and cautioned that if issues continue well into the next quarter, Activision Blizzard could be adversely affected financially.
With all of this in mind, Activision Blizzard was able to report continued success throughout Q2. Nonetheless, it remains to be seen how the company will continue to respond to both victims and the lawsuit, as well as employees who stand in solidarity with them. As more companies report on the closing fiscal quarter, be sure to follow our continued Q2 2021 earnings results coverage here at Shacknews as it becomes available.
TJ Denzer posted a new article, Activision Blizzard (ATVI) Q2 2021 earnings results raise full-year financial outlook