Solid Q2, focus turns to upcoming releases
Q2 results were broadly in line with underlying expectations. Management acknowledged that Fortnite is impacting engagement across several franchises but Activision Publishing bookings held up. King bookings missed consensus but evidence of the risk in that segment had increased in the run up to results. With a number of games expected to be released over the next 18 months, we expect the focus to be on the potential for these to drive growth.Activision Blizzard is a global developer and publisher of interactive entertainment content and services. The company's segments are: Activision Publishing, Inc., which is a global developer and publisher of interactive software products and entertainment content, particularly for the console platform; Blizzard Entertainment, Inc., which is a global developer and publisher of interactive software products and entertainment content, particularly for the personal computers platform; and King Digital Entertainment, which is a global developer and publisher of interactive entertainment content and services, particularly for the mobile platform, including for Google Inc.'s Android and Apple Inc.'s iOS.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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