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Activision Blizzard Q3 Financials

Activision Blizzard Announces Better-Than-Expected Third-Quarter 2017 Financial Results, revealing the company made something between bucketsful and boatloads of money for the quarter. Word is: "For the quarter ended September 30, 2017, Activision Blizzard’s net revenues presented in accordance with GAAP were a Q3 record of $1.62 billion, as compared with $1.57 billion for the third quarter of 2016. GAAP net revenues from digital channels were a Q3 record of $1.35 billion. GAAP operating margin was 16%. GAAP earnings per diluted share were $0.25, as compared with $0.26 for the third quarter of 2016." Here are the highlights:

Selected Business Highlights:
We serve our hundreds of millions of audience members with an ongoing pipeline of content, services, and features. In Q3 we demonstrated that meaningful results can come from content investments, both large and small.

Audience Reach

  • Activision Blizzard had 384 million Monthly Active Users (MAUs)B in the quarter.
  • Activision had the biggest third-quarter online player community in its history, with a record 49 million MAUsB.
  • Launched in September, Destiny 2 is the best-selling console game year-to-date in the U.S.2 Digital mix was over 50% of console full game sell-through, a new record for the company. In October, we introduced the Destiny franchise to PC gamers on Blizzard’s Battle.net® platform, opening the franchise to new global audiences and future growth opportunities.
  • Activision’s Call of Duty continued its strong momentum with record Q3 MAUsB ahead of the highly anticipated launch of Call of Duty: WWII on November 3, 2017. Pre-order momentum has been strong, with a higher percentage of pre-orders on the digital offering than prior Call of Duty titles.
  • Blizzard had the biggest third quarter online player community in its history, with a record 42 million MAUsB. This is the fourth quarter in a row that Blizzard drove quarterly record MAUsB. Overwatch® and Hearthstone® MAUsB grew year-over-year. The Overwatch community grew to over 35 million registered players.
  • King had 293 million MAUsB for the quarter and has had two of the top-10 highest-grossing titles in the U.S. mobile app stores for sixteen quarters in a row.1 Candy Crush Saga™, which is celebrating its 5th anniversary, returned to the #1 grossing position in U.S. mobile app stores for the quarter.1

Deep Engagement

  • The company achieved a new milestone with players spending over 50 minutes per day in Activision Blizzard games, in line with some of the most engaging online connected platforms in the world.
  • Activision and Bungie’s Destiny 2 is well ahead of the highly engaging original Destiny on time spent per player and attach rate to the Expansion Pass.
  • Blizzard’s Hearthstone: Knights of the Frozen Throne™ expansion led to double-digit percentage growth in time spent year-over-year for the franchise. Overwatch had a Summer Games seasonal event in August and a Halloween Terror event in October, both of which continued to drive strong engagement and participation in customization items. World of Warcraft® released a new content update in the quarter, leading to stable MAUsB for the franchise quarter-over-quarter and continued participation in value added services.
  • King’s increased cadence of live operations and new features continued to drive strong engagement. The frequency with which players returned to play and the time spent per player are at record highs.
  • The inaugural season of the Overwatch League is set to begin at the Blizzard Arena Los Angeles, with 12 world-class teams from around the world competing in regular season games starting on January 10, 2018. This morning, Blizzard announced groundbreaking Overwatch League sponsorship deals with HP and Intel.
  • Blizzard’s eleventh BlizzCon® will be returning to the Anaheim Convention Center this Friday, November 3, and Saturday, November 4, where it will host over 30,000 people. With tickets having sold out in a matter of seconds, millions more will be able to join through live-streaming or the BlizzCon Virtual Ticket. BlizzCon will feature a number of events, including the finals of several Blizzard esports tournaments, with global champions crowned across a number of franchises.
  • The new season of Activision’s Call of Duty World League is set to begin in December, featuring the largest prize pool in franchise history.

Player Investment

  • Activision Blizzard delivered a Q3 record of over $1 billion of in-game revenues, with record performance year-to-date.
  • Activision achieved record Q3 segment revenues and operating income, capping record year-to-date performance.
  • With the launch of the game on PC, Destiny 2 is now ahead of the original game in consumer spend.
  • Call of Duty had strong franchise engagement and stable in-game purchases sequentially.
  • King’s paying players grew for the first time since Q1 2016, while gross bookingsC per paying user also grew for the ninth quarter in a row to a new record.
  • Candy Crush™ franchise gross bookingsC grew to their highest level since 2013. King also achieved record quarterly mobile gross bookingsC in Q3, driving the third sequential quarter of segment revenues growth.
  • Both Activision and Blizzard delivered strong library content in the quarter with Activision’s Crash Bandicoot™ N. Sane Trilogy, and Call of Duty: Modern Warfare® Remastered, released as a standalone game, and Blizzard’s StarCraft®: Remastered.

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