Activision Blizzard has announced “better-than-expected” financial results for the third quarter of 2016 as it saw record revenues, operating income and cash flow. Most notably, Quarterly GAAP Digital Revenues amounted to over $1.3 billion, which is an increase of 114% year-on-year. As a result, the company has increased its outlook for the current year.
“This quarter we again over-performed our plan, delivering record third-quarter revenues of $1.57 billion, up almost 60% and earnings per share of $0.49, more than doubling year-over-year on a non-GAAP basis (as redefined),” said CEO Bobby Kotick.
We’re told that during the current quarter, Activision Blizzard saw 10 billion hours of playtime across its titles and the company has 482 million monthly active users. Strong financial results are thanks in part to the success of Overwatch, which is now Blizzard’s fastest game to reach 20 million players (after only about four months). Activision also owns four of the top ten games on current-gen platforms to date, with Call of Duty: Black Ops III holding the number one spot.
Looking forward, Activision Blizzard expects “continued momentum” from its growth strategies, especially its eSports business and “integration of in-game advertising.”
[Source: Activision Blizzard]
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