ATVI Earnings: Activision Blizzard Q2 earnings jump; revenue up 34%

Activision Blizzard, Inc. (NASDAQ: ATVI) reported a sharp increase in earnings for the second quarter of 2023 when the video game publisher’s revenues climbed 34%.

Second-quarter net revenues increased 34% from last year to $2.21 billion. At $2.46 billion, net bookings were up 50% during the three-month period.

Net income increased sharply to $587 million or $0.74 per share in the June quarter from $280 million or $0.36 per share in the same period of last year. Adjusted profit increased by 90% to $0.91 per share.

“This quarter, our talented teams delivered strong performance for our players and shareholders. We delivered a 50% year-over-year increase in net bookings, operating income growth over 70%, earnings per share growth over 80%, and a record quarter for Blizzard with over $1 billion in net bookings for the first time,” said Activision’s CEO Bobby Kotick.

Prior Performance