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Activision Blizzard Reports Better-Than-Expected Second Fiscal Quarter

Video game publisher Activision Blizzard announced solid second-quarter 2018 results on Thursday.

The company’s net revenues for the quarter were a record $1.64 billion, up from $1.63 billion during the same time last year. Analysts expected earnings per share to be $0.35 in Q2 2018, but they beat expectations as well. They were a record $0.52, compared with $0.32 for the second quarter of 2017.

“This was another strong quarter for Activision Blizzard. Our portfolio of global franchises enabled us to deliver record first half revenues and earnings per share,” said Activision Blizzard CEO Bobby Kotick. “This past weekend we held the Overwatch League Grand Finals. We had a very successful first season as we enhanced our leadership position in esports. And, today we announced two additional Overwatch League franchise sales at record prices, adding Atlanta, Georgia and Guangzhou, China to our league. We plan to announce additional franchises over the next few months.”

The Overwatch League Grand Finals took place at Barclays Center in New York in front of a sold-out live audience and millions of global viewers via TV networks and streaming platforms, the company said. About 70% of that audience was comprised of the coveted 18-34 demographic. The Call of Duty World League enjoyed some momentum as well. Year-to-date minutes watched were up 50% year-over-year heading into its championships in Columbus, Ohio later this month.

Overall, Activision Blizzard said it had 352 million monthly active users in the second quarter. Although it didn’t provide specific numbers, it said “Destiny 2’s” monthly active users grew quarter-over-quarter thanks to its second expansion, Warmind. Meanwhile, “Call of Duty: Black Ops 4” and “World of Warcraft: Battle for Azeroth” pre-orders are “strong,” and pre-purchases for “Hearthstone’s” upcoming expansion, The Boomsday Project, are tracking ahead of any prior expansion at the same point in time pre-release.

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