Activision Blizzard Releases First Quarter Earnings, Showing 87% ($740 Million) YoY Income Growth, Monthly Active Users Decline

Despite what some gamers may think, Activision Blizzard is doing pretty well financially.

The publisher released its first quarter 2023 financial results, revealing that its net income for the period has increased by 87% year-over-year to reach $740 million. Also, revenue is up 35% to 2.38 billion and net bookings grew 26% to $1.86 billion.

“We continued to deliver strong results for our intellectual properties on the strategically-important mobile platform, with mobile net bookings growing double-digits year-over-year, driven by Candy Crush, Call of Duty Mobile and last year’s launch of Diablo Immortal,” Activision Blizzard said in a press release.

Individually, Activision revenue rose 28% year-over-year; Blizzard’s revenue hiked 62% year-over-year; and King’s revenue escalated 8% year-over-year. That being said, monthly active users during the quarter went down by 4 million (totaling 368 million), made up of a 2 million decrease from Activision and a 7 million loss from King. However, Blizzard’s monthly active users during this period surged by 5 million.

“We expect Activision Blizzard second quarter GAAP revenue to grow at least 10%, net bookings to grow at least 30%, and total segment operating income to grow at least 40%, in each case on a year-over-year basis,” the publisher added, citing demand indicators for Diablo IV.