Activision Blizzard (ATVI) Q3 2021 earnings results beat revenue and EPS expectations
Against all its ongoing issues, lawsuits, and employee dissatisfaction, Activision Blizzard still put up better-than-expected Q3 2021 earnings results.
In the vast landscape of game developers and publishers, there is perhaps no larger company more troubled and fumbling than Activision Blizzard in its handling of toxic workplace and sexual harassment allegations. It’s not lacking for money, though. Against all issues, the company still managed a strong finish for its Q3 2021 earnings results against expectations of its net revenue and earnings-per-share (EPS).
Activision Blizzard posted its Q3 2021 earnings results on its investor relations website on November 2, 2021. Some of the highlights included Activision Blizzard’s actual net revenue and EPS numbers versus previous expectations. Activision Blizzard’s previous outlook on August 30, 2021, forecasted $1.970 billion USD in GAAP net revenue. The company instead put up $2.070 billion GAAP net revenue. Furthermore, Activision Blizzard experienced a similar win in GAAP earnings-per-share (EPS). Against an expected EPS of $0.64, Activision Blizzard instead put up $0.82.
Unfortunately, Activision Blizzard has yet to crawl out of a steady slump in stock value that began in June 2021. The company’s public image continues to falter and the ongoing issues including a lawsuit from California’s DEFH (Department of Fair Employment and Housing). Moreover, Activision Blizzard’s weak profit guidance in Q4 2021 led to another slump in after-hours trading on November 2, 2021, following a short boost.
Activision Blizzard has quite a bit on the horizon, including another Call of Duty launch in Vanguard. However, games like Overwatch 2 and Diablo 4 continue to remain in question as the company continues to work through its issues, firing staff and restructuring Blizzard Entertainment drastically. Meanwhile, it still remains to be seen if CEO Bobby Kotick will recognize a union within the company at the demand of the #ABetterABK group.
While Activision Blizzard can claim a few victories on its previous quarter financially, it will remain to be seen if it can keep its ongoing litigation and further concerns from catching up to it. Stay tuned for further Q3 2021 quarterly reporting, here at Shacknews.
TJ Denzer posted a new article, Activision Blizzard (ATVI) Q3 2021 earnings results beat revenue and EPS expectations