Activision Blizzard Reports Strong Revenue Growth in Q1 2023
The Activision Blizzard has presented its financial results for the first three months of 2023 and reveals a strong revenue growth, with a significant boost from the reservations for Diablo 4, its upcoming major release.
On the day the CMA’s blockage of the sale to Microsoft was announced, Activision Blizzard gave some reasons for investors to smile by presenting net results of $740 million, an 87% increase over the same period in 2022.
Activision, Blizzard, and King all saw growth, with a focus on the mobile sector and their key series (Call of Duty, Candy Crush, Warcraft, Overwatch, and Diablo). According to the report, the strategic use of their key intellectual properties on mobile resulted in strong results for the entire company.
Activision’s revenue grew by 28% in the first 3 months of 2023 compared to the first quarter of 2022, Blizzard saw a 62% increase, and King saw an 8% increase.
The number of monthly active users decreased by 4 million to 368 million, with King losing the most players. However, while King lost 7 million players, Blizzard saw an increase of 5 million, offsetting the decline.
Looking ahead, Activision Blizzard expects further revenue growth, thanks to Diablo 4, and the rest of the year will see a new Call of Duty release to support its finances.
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