Video game publisher Activision Blizzard, Inc. (NASDAQ: ATVI) has announced results for the fourth quarter of 2022, reporting a sharp decline in adjusted earnings, despite an increase in revenues.
Fourth-quarter net revenues increased 8% from last year to $2.33 billion. At $3.57 billion, total bookings were up 43% during the three-month period.
Meanwhile, net income decreased to $403 million or $0.51 per share in the December quarter from $564 million or $0.72 per share in the same period of last year. Adjusted profit decreased by 23% to $0.78 per share.
“We look forward to a historic year, as we work toward merging with Microsoft. This merger will enable us to better serve our players, create greater opportunities for our employees, and allow us to succeed in an increasingly competitive global gaming industry,” said Activision’s CEO Bobby Kotick.
