Activision Blizzard reported today that its earnings for the second quarter ended June 30 beat Wall Street’s expectations on both earnings and revenues.
But the stock price fell 3% in after-hours trading, presumably because of weak guidance for the current quarter.
The company had no major game launches during the quarter, but its financial performance is driven from ongoing revenue from existing online titles.
Activision Blizzard’s core businesses include Overwatch, Call of Duty, World of Warcraft, and its Candy Crush mobile games.
For the quarter ended June 30, 2019, the Santa Monica, California-based company said that its revenues were $1.40 billion, as compared with $1.64 billion for the second quarter of 2018.
GAAP earnings per diluted share were 43 cents, as compared with 52 cents for the second quarter of 2018.