Activision Blizzard Reports Q3, 2018 Earnings, Revenues Down 13% YoY
It's been a rough week for Activison Blizzard. First they received an incredible amount of outrage from Diablo fans upon revealing Diablo: Immortal, a mobile Diablo title developed by their Chinese partner Netease, and now they reported weak earnings on Wall Street. Q3 2018 revenues came in at $1.5B, which was down 10% compared to Q3 2017. In addition, the company projected that Q4 would be weaker than expected which led to the company's stock price falling 10% today, which wipes out $5B in equity value.
Interesting data from their earnings report:
- Company-wide monthly active users (MAUs) were 345M
- King Digital: 262M MAUs, Activision: 46M, Blizzard: 37M
- World of Warcraft: Battle for Azeroth set a new day one franchise record with 3.4 million units sold.
- The Overwatch League sold an additional 6 team licenses in September at prices much higher than Season 1
- Players spent a record 52 mins per day playing Activision Blizzard titles (on average)
- Full Year 2018 revenues expected to come in at $7.48B
Source: Q3, 2018 Earnings