Shares of Activision-Blizzard (NASDAQ:ATVI) gained slightly in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $1.87, which beat analysts’ consensus estimate of $1.51 per share. Sales increased by 43.4% year-over-year, with revenue hitting $3.57 billion. This beat analysts’ expectations of $3.18 billion.
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Activision-Blizzard posted 389 monthly active users (MAUs) in the quarter and also brought in net bookings of $3.57 billion. That compares to just $2.49 billion in the fourth quarter of 2021. Its in-game net bookings also increased, going from $1.24 billion in 2021’s fourth quarter to $1.82 billion in the 2022 fourth quarter.
Shares of the company lost almost 5% in regular trading on reports that Microsoft (NASDAQ: MSFT) is expecting the UK regulators will try and block its $69 billion purchase of Activision-Blizzard.
Overall, Wall Street has a consensus price target of $91.67 on Activision-Blizzard, implying 28.07% upside potential, as indicated by the graphic above.
