Activision Blizzard Outperforms Tempered Expectations for Holiday Season

Call of Duty Mobile - Publicity - H 2019
Courtesy Activision

Strong revenue from 'Call of Duty' and King's mobile titles helped bolster the company's revenue over the quarter.

Activision Blizzard posted "better than expected" results from its most recent financial quarter on Thursday, with GAAP net revenue of $1.9 billion for the period, above the $1.8 billion expectation but still down year-over-year from $2.3 billion. The company had lowered its expectations for the holiday season following its Q3 report in November.

Activision Blizzard's full-year net revenue totaled $6.5 billion, down from $7.5 billion the year prior.

Major drivers in Q4 for Activision were Call of Duty Mobile and Call of Duty: Modern Warfare, both launched in October. The mobile offering of the shooter franchise has amassed 150 million installs and ended the quarter as one of the top 15-grossing games in U.S. app stores. Infinity Ward's Modern Warfare, meanwhile, continued to outperform 2018's Call of Duty: Black Ops 4 in unit sales by a "double-digit percentage."

Also on the mobile front, King, the studio behind Candy Crush Saga, topped 249 million monthly active users. Candy Crush Saga finished the quarter as the top-grossing title in the U.S.

All told, Blizzard titles, including World of Warcraft and Hearthstone, topped 32 million monthly active users. 

Looking forward, Activision Blizzard is expecting net revenue in Q1 2020 of $1.6 billion.