{"id":522402,"date":"2021-08-03T16:09:34","date_gmt":"2021-08-03T20:09:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/activision-blizzard-announces-second-quarter-2021-financial-results\/"},"modified":"2021-08-03T16:09:34","modified_gmt":"2021-08-03T20:09:34","slug":"activision-blizzard-announces-second-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/activision-blizzard-announces-second-quarter-2021-financial-results\/","title":{"rendered":"Activision Blizzard Announces Second-Quarter 2021 Financial Results"},"content":{"rendered":"

<\/p>\n

Activision Blizzard Announces Second-Quarter 2021 Financial Results<\/b><\/p>\n

SANTA MONICA, Calif.–(BUSINESS WIRE<\/a>)–
\nActivision Blizzard, Inc. (Nasdaq: ATVI) today announced second-quarter 2021 results.\n<\/p>\n

\n\u201cWith respect to our financial performance, we are pleased that the company continued to deliver strong results in the second quarter, and we are raising our outlook for the year,\u201d said Bobby Kotick, CEO of Activision Blizzard. \u201cWe remain intensely focused on the well-being of our employees and we are committed to doing everything possible to ensure that our company has a welcoming, supportive and safe environment where all of our team members can thrive.\u201d\n<\/p>\n

Financial Metrics<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

Q2<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in millions, except EPS)<\/b><\/p>\n<\/td>\n

\n\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Prior Outlook*<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP Net Revenues\n<\/p>\n<\/td>\n

\n\n

\n$2,296\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$2,135\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$1,932\n<\/p>\n<\/td>\n<\/tr>\n

\n

Impact of GAAP deferralsA<\/sup><\/i><\/p>\n<\/td>\n

\n\n

($375)<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

($285)<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

$146<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP EPS\n<\/p>\n<\/td>\n

\n\n

\n$1.12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.81\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.75\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP EPS\n<\/p>\n<\/td>\n

\n\n

\n$1.20\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.91\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.81\n<\/p>\n<\/td>\n<\/tr>\n

\n

Impact of GAAP deferralsA<\/sup><\/i><\/p>\n<\/td>\n

\n\n

($0.29)<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

($0.21)<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

$0.16<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n<\/tr>\n<\/table>\n

\n* Prior outlook was provided by the company on May 4, 2021 in its earnings release.\n<\/p>\n

\nPlease refer to the tables at the back of this earnings release for a reconciliation of the company\u2019s GAAP and non-GAAP results.\n<\/p>\n

\nFor the quarter ended June 30, 2021, Activision Blizzard\u2019s net revenues presented in accordance with GAAP were $2.30 billion, as compared with $1.93 billion for the second quarter of 2020. GAAP net revenues from digital channels were $2.03 billion. GAAP operating margin was 42%. GAAP earnings per diluted share were $1.12, as compared with $0.75 for the second quarter of 2020. On a non-GAAP basis, Activision Blizzard\u2019s operating margin was 44% and earnings per diluted share were $1.20, as compared with $0.81 for the second quarter of 2020.\n<\/p>\n

\nFor the quarter, operating cash flow was $388 million, as compared with $768 million for the second quarter of 2020. For the trailing twelve-month period, operating cash flow was $2.57 billion.\n<\/p>\n

\nPlease refer to the tables at the back of this press release for a reconciliation of the company\u2019s GAAP and non-GAAP results.\n<\/p>\n

Operating Metrics<\/b><\/p>\n

\nFor the quarter ended June 30, 2021, Activision Blizzard\u2019s net bookingsB<\/sup> were $1.92 billion, as compared with $2.08 billion for the second quarter of 2020. In-game net bookingsC<\/sup> were $1.32 billion as compared with $1.37 billion for the second quarter of 2020.\n<\/p>\n

\nFor the quarter ended June 30, 2021, overall Activision Blizzard Monthly Active Users (MAUs)D<\/sup> were 408 million.\n<\/p>\n

Commitment to a Safe Working Environment<\/b><\/p>\n

\nFollowing serious allegations regarding the company\u2019s employment, compensation and workplace practices, Activision Blizzard is taking swift action to ensure a safe and welcoming work environment for all employees. We have engaged a law firm to conduct a review of our policies and procedures to ensure that we have and maintain best practices to promote a respectful and inclusive workplace. We will be adding additional staff to our Compliance and Employee Relations teams, strengthening our capabilities in investigating employee concerns. We are creating safe spaces, moderated by third parties, for employees to speak out and share areas for improvements. We will be evaluating managers and leaders across the company with respect to their compliance with our processes for evaluating claims and imposing appropriate consequences. And we will be adding resources to ensure and enhance our consideration of diverse candidate slates for all open positions. The leadership of the company is committed to creating the most welcoming, comfortable, and safe culture possible.\n<\/p>\n

Selected Business Highlights<\/b><\/p>\n

\nActivision Blizzard exceeded its prior outlook for the second quarter, benefiting from strong execution by our creative and commercial teams in delivering compelling experiences and in-game content to our deeply engaged communities. Our increased investment in our largest franchises over the last two years has significantly expanded the scale and enhanced the financial trajectory for Call of Duty\u00ae<\/sup><\/b>, World of Warcraft\u00ae<\/sup><\/b>,and Candy CrushTM<\/sup><\/b>. This work continued to deliver strong results in the second quarter, even as countries continued to reopen from lockdowns related to the pandemic.\n<\/p>\n

Activision<\/i><\/b><\/p>\n