Activision Blizzard Inc Stock Price, News & Analysis

Activision Blizzard reported a strong performance for Q1 2023, with net bookings growing by 25% year-over-year to $1.86 billion. GAAP net revenues reached $2.38 billion, up from $1.77 billion in Q1 2022, while GAAP operating income increased by approximately 70%. The company highlighted continued growth across its major franchises, including Call of Duty and Candy Crush, with mobile bookings showing double-digit growth. Activision Blizzard remains focused on its acquisition deal with Microsoft, which is facing regulatory challenges in the UK. The outlook for Q2 indicates further growth, with projected GAAP revenue and net bookings expected to rise by at least 10% and 30% respectively.

Activision Blizzard (ATVI) plans to release its first quarter 2023 results after market close on April 27, 2023. The company is currently in the process of being acquired by Microsoft for $95.00 per share in an all-cash transaction, which has already received board and stockholder approval. Due to the ongoing acquisition, Activision Blizzard will not host a conference call, issue an earnings presentation, or provide financial guidance for this earnings release. Investors are encouraged to stay informed through Activision's various disclosure channels, including their official website and investor relations page.

Blizzard Entertainment has launched the Festival of Legends^™, a new expansion for its popular digital card game Hearthstone^®. This expansion introduces 145 concert-themed cards featuring new mechanics such as the Finale keyword and Soloist minions. Each class includes a Legendary minion and Legendary spell, with unique effects enhancing gameplay. The expansion aims to appeal to a diverse range of music fans and includes updates to the Priest class, enhancing its healing capabilities with the Overheal keyword. The launch coincides with the beginning of the Year of the Wolf and introduces new Core Set updates. Mike Ybarra, President of Blizzard, emphasizes the creativity and excitement behind this expansion.

Activision Publishing has announced the pre-order availability for Crash Team Rumble, launching on June 20, 2023. Players who pre-order will gain access to a Closed Beta from April 20-24. The game features a unique 4v4 multiplayer experience and allows players to choose from characters like Crash Bandicoot and Neo Cortex. Players will engage in strategic gameplay across various maps, utilizing unique powers to win. The Standard Edition is priced at $29.99, while the Deluxe Edition retails for $39.99, including additional content and unlocks.

On March 23, the Candy Crush All Stars tournament returns, allowing players a chance to be crowned this year's champion. For the first time, 10 finalists will compete in London for a share of a $250,000 prize pot and championship rings worth $75,000 designed by Icebox. The event, featuring Saweetie, also showcases championship rings with rare gems, rewarding dedication among players. Open to players over 18 from select countries, the free tournament runs until April 3. Finalists will enjoy an all-expenses-paid trip to London for the live event on May 25.

Blizzard Entertainment has launched a cosmetic collection in the Overwatch 2 game, featuring elements from the popular anime One-Punch Man. This collection includes hero skins for Doomfist, Genji, Kiriko, and Soldier 76, available until April 6. This event marks the first major collaboration within the Overwatch universe, hinting at future crossover opportunities. Mike Ybarra, Blizzard's president, expressed enthusiasm for this collaboration. The Overwatch 2 game continues to evolve with new features, including a new in-game shop and a battle pass system, aiming to enhance player engagement and experience.