Sci-tech

Activision made $1 billion from in-game revenue in three months

Activision made $1 billion from in-game revenue in three months

Activision Blizzard also said it's seen some "near-term impact" from battle royale games, yet it reported net revenue for its first quarter this year was up almost 14% year-over-year, despite briefly taking a tumble after the Dow Jones accidentally posted erroneous earnings for the company prematurely Thursday.

Shares of the company were down 1.5 percent at $65.80 in extended trading. "The idea of new competition is going to be a staple for gaming", he said. Shares of the two companies have been hit hard in recent weeks, but Jefferies sees their dips as a buying opportunity, saying the worst-case scenario is already priced into their stock prices.

Ultimately, the biggest division of Activision Blizzard is Activision itself, which brought in $872 million in Q1.

Chief Financial Officer Spencer Neumann said Activision has seen "some near-term impact" from "Fortnite".

Excluding items, the company earned 38 cents per share, beating the average analyst estimate of 35 cent per share.

However, considering Take-Two's upcoming release of Red Dead Redemption 2, there is an opportunity for the company to bounce back.

Parkland school shooter's brother Zachary Cruz arrested again
He had admitted to sheriff's deputies that he had been to the high school three times since the shootings. The law firm said it would give more information on the federal lawsuit at a press conference Thursday.

During Activision's earnings report for Q1 2018, the publisher was asked a few times about the explosive success of Fortnite in particular, and the effect the burgeoning battle royale subgenre has had on the industry in these past few months in general. Electronic Arts is scheduled to report its fiscal fourth-quarter results on Tuesday. The company also had a lack of popular releases in the quarter. Take-Two is due to post its fiscal fourth-quarter results on May 16.

Epic Games' Battle Royale-style game, Fortnite, is taking the gaming community by storm.

Battle royale games are multiplayer online games where the virtual combatants fight to the death to be the last one standing.

The publisher did not say how much of an impact Fortnite and other battle royale games have had on Activision Blizzard's bottom line or which of its games were most affected.

Ju reiterated his outperform rating on Activision and raised his price target to 85 from 84. It's expected that this model may become more popular for video games.

He added the $60 games model will continue to be an important part of the equation, and the level of investment Activision Blizzard makes in content, features, and services will make such games a very attractive proposition for players.


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