In the early morning of February 7, Activision Blizzard released its financial report for the fourth quarter of 2022, which is also the first time that Activision Blizzard released its financial report after breaking up with NetEase. The financial report shows that the net income of Activision, Blizzard and King, the three subsidiaries of Activision Blizzard, increased in the fourth quarter of last year. Among them, Activision Blizzard achieved a 27% increase in net income in the fourth quarter of the Asia-Pacific region, including China. Some insiders believe that the breakup between Activision Blizzard and Netease does not mean that Activision Blizzard has abandoned the Chinese market. It is worth mentioning that on the afternoon of February 7, it was said that the agency of Blizzard China would be taken over by Shengqu Game, a wholly-owned subsidiary of the listed company Shijihuatong. However, the person in charge of Shengqu Game denied the rumor to the reporter of Securities Daily. According to the call of mission 2's financial report, Activision Blizzard's net income in the fourth quarter of 2022 was $2.33 billion, and its net income in the same period of 2021 was $2.16 billion. If deferred net income (income to be recognized) is included, Activision Blizzard's net income in the fourth quarter of 2022 is about $3.4 billion. In addition, from the perspective of net bookings, an important indicator to evaluate the performance of game companies, Activision Blizzard's net bookings increased by 43% to $3.57 billion in the fourth quarter of last year, exceeding the previous analysts' estimate of $3.08 billion (net bookings refer to the net amount of products and services sold by digital or physical means during this period). In addition, as of December 31, 2022, Activision Blizzard's overall monthly active users (MAU) in the fourth quarter of last year was 389 million, up from 371 million in the same period in 2021. The revenue of the three subsidiaries increased year on year. The net income of Activision in the fourth quarter of last year was 1.85 billion US dollars, compared with 1.16 billion US dollars in the same period of 2021; Blizzard's net income in the fourth quarter of last year was $800 million, compared with $420 million in the same period of 2021; King's net income in the fourth quarter of last year was $730 million, compared with $680 million in the same period of 2021. It is reported that the representative works of the three subsidiaries have achieved good results in the fourth quarter of last year. For example, the shooting game "Call of Duty: Modern War II" (hereinafter referred to as "Call of Duty 2") released by Activision in October last year set the highest sales record for the first quarter in history. At the end of the fourth quarter of last year, the cumulative playing hours reached the highest record in the history of paid games in this release stage. Activision Blizzard has not disclosed how much revenue "Call of Duty 2" brings. However, according to NPD Group, an industry research institute, the game sold $1 billion in 10 days, making it the best-selling video game in 2022. In addition, the financial report mentioned that the three games of Blizzard, namely Warcraft, Watchman and Diablo, had a strong year-on-year growth, with net bookings of more than US $100 million each. Activision Blizzard has full confidence in its performance in 2023. It was mentioned in the financial report that "we expect Blizzard's global financial growth to be strong in 2023, thanks to the launch and operation of Diablo IV". Shengqu game denied the rumors, but the most important thing for Chinese players is still the direction of Blizzard's China agency. About Blizzard
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Securities Dairy
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