During the pandemic, Activision Blizzard released a variety of games, updates and free-to-play options, which executives said helped boost third quarter revenue to $1.77 billion, up 46% year-over-year. Shares are up 31% on the year.
Activision plans to hire approximately 2,000 workers to help produce content for the next-gen consoles set to release this month, but its fourth quarter forecast was lower than those from some Wall Street analysts. The disparity suggests the company believes the video game boom is fizzling even as COVID-19 cases surge throughout the U.S.
Outlook for the video game industry could become more clear with Take-Two Interactive and Electronic Arts set to release earnings this week.
Notable Earnings Reports This Week:
11/2 — MSG Networks
11/4 — Fitbit, Sinclair Broadcast Group
11/5 — Caesars Entertainment, Peloton, Take-Two, Electronic Arts, Liberty Media Corp., DISH Network, Nielsen, Roku
11/6 — ViacomCBS
