Activision Blizzard announced their financial results for Q1 2023 and we have the highlights.
Highlights
For the quarter ended March 31, 2023, Activision Blizzard’s net bookings were $1.86 billion (up from $1.48 billion for Q1 2022). In-game net bookings were $1.29 billion (up from $1.01 billion for Q1 2022).
Activision Blizzard generated $577 million in operating cash flow for the quarter (down from $642 for Q1 2022).
Microsoft plans to acquire Activision Blizzard for $95 per share in an all-cash transaction, which has been approved by the board of directors of both Activision Blizzard and Microsoft and by Activision Blizzard’s stockholders.
Blizzard segment revenue increases 62% year-over-year in Q1, with each of Warcraft, Overwatch, and Diablo contributing to growth. Segment operating income was broadly stable year-over-year, reflecting development and marketing costs, including launch investments ahead of the Q2 Diablo 4 release.
Following the November release of Dragonflight, the WoW team is delivering more content faster than ever before, and subscriber retention in the West is higher than at the equivalent stage of recent Modern expansions.
Diablo Immortal contributed to Blizzard’s Q12 net bookings growth with the game experiencing stable trends across engagement, retention, and player investments.
Warcraft: Arclight Rumble continues to progress well through regional testing.
Diablo 4 will launch on PC and console on June 6. Public testing of the game in March saw very high engagement and positive feedback, and strong pre-sales. This ambitious title will serve as the launch for a compelling live service, with regular seasons and story-driven expansions planned to drive engagements for many years to come.
Source: Investor Activision
