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San Francisco (AFP)
Video game titan Activision Blizzard said Thursday that its quarterly earnings exceeded expectations as gamers flocked to Call of Duty, World of Warcraft and Candy Crush.
Activision Blizzard reported revenue of $ 2.41 billion in the final three quarters of last year and a net income of 65 cents a share, higher than analyst forecasts.
The US-based company had revenue of $ 1.99 billion in the same period in 2019, before the pandemic caused people to huddle at home and turn more than ever to video games and television broadcasting for entertainment.
“In a year filled with adversity, our extraordinary employees were determined to bring connection and joy to our 400 million players around the world,” Chief Executive Officer Bobby Kotick said in an earnings release.
“They did this in addition to generating record financial results for our shareholders.”
Activision shares were up more than 8 percent in after-market trading.
The Call of Duty franchise racked up a record year in 2020, with 128 million people playing the video game monthly in the fourth quarter, according to the company.
A version of the combat and action game designed for smartphones and tablets had its best quarter, quickly becoming one of the top downloads after its release in China in December, Activision Blizzard reported.
Strong player participation was also seen in World of Warcraft and its mobile-focused unit King, according to the company.
Some 240 million people played King’s mobile games monthly, and its most popular title is the Candy Crush color-matching challenge, Activision Blizzard reported.
The company boasted that Candy Crush was the top money-making franchise in US app stores.
Video games have seen exceptional growth during the pandemic that has shut down real-world activity and kept billions under cover.
© 2021 AFP
