© Reuters. FILE PHOTO: The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake/File Photo
(Reuters) -Videogame publisher Activision Blizzard Inc (NASDAQ:) missed estimates for first-quarter adjusted sales on Monday, hurt by low demand for its latest title “Call of Duty: Vanguard”.
Activision’s performance has taken a hit from lower premium sales for “Call of Duty: Vanguard” and weaker engagement in “Call of Duty: Warzone”, with a return to pre-pandemic habits pressing gamers to spend less time on their consoles.
The company, which is being taken over by Microsoft Corp (NASDAQ:), has also been facing backlash over its response to allegations of internal sexual harassment and discrimination against female employees.
The Santa Monica, California-based company’s quarterly adjusted sales stood at $1.48 billion, compared with analysts’ estimates of $1.80 billion, according to Refinitiv IBES data.
Net income for the quarter ended March 31 fell to $395 million, or 50 cents per share, from $619 million, or 79 cents per share, a year earlier.
Excluding items, Activision earned 64 cents per share.
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