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The video game industry remained in growth mode through the first quarter, and
Activision Blizzard s (NASDAQ:ATVI) latest earnings results didn t disappoint. Revenue and adjusted earnings per share came in better than management s prior outlook, as players continue to remain highly engaged with its largest franchises, especially
Call of Duty.
Management s comments during the first-quarter earnings call show a business firmly on offense with plenty of growth opportunities still ahead. Let s take a closer look at four comments made in the latest Activision Blizzard earnings call and what they might mean for investors.
Image source: Activision Blizzard.
2. Staying on offense
Provided by Dow Jones By Maria Armental Activision Blizzard Inc. was among the best performers on the S&P 500 Friday with a 9.4% gain to $101.39, following record results in 2020 with more than $8 billion in revenue and $2 billion in profit and company executives bullish tone for 2021 and beyond. The last time the company s stock traded at those levels was in early 1984, according to FactSet. We are entering 2021 with momentum across our largest franchises, Chief Operating Officer Daniel Alegre said in a conference call with analysts. We are only at the beginning of unlocking the full potential of our portfolio and expect another step change in financial performance in 2022 as we execute against our pipeline, he said.