‘Pokemon Legends’ exceeds 6.5M players in first week
“Game On” is The Fly’s weekly recap of the stories powering up or beating down video game stocks.
ACTIVISION RESULTS: Last week, Activision Blizzard (ATVI) reported lower-than-expected fourth quarter adjusted earnings and net bookings, with the game maker noting that lower net bookings for the “Call of Duty” franchise, particularly new entry “Call of Duty: Vanguard,” declined year-over-year on all platforms. The company, which noted that its deal to be acquired by Microsoft (MSFT) has been approved by both boards, also said in its quarterly report that net bookings for its King mobile game segment grew 14% year-over-year in the quarter and that its Blizzard unit is planning “substantial” new content for the “Warcraft” franchise in 2022, including an all-new mobile “Warcraft” title.
EA RESULTS: Electronic Arts (EA) also reported quarterly results last week, with third quarter net bookings coming in below consensus estimates. Contributing to the downbeat quarter was a lackluster launch for multiplayer shooter “Battlefield 2042,” which the company said did not meet expectations. The game maker noted, however, that fiscal 2022 has been the biggest year yet for free-to-play live services game “Apex Legends,” and that net bookings in its EA Sports portfolio rose 10% year-over-year. Looking ahead, EA raised its FY22 earnings guidance, but cut its net bookings guidance for the period.
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