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Activision Blizzard Inc ATVI

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Widespread Discrimination and Harassment Allegations Rightly Overshadow Mixed Q2 at Activision

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Activision Blizzard posted mixed second-quarter results, with non-GAAP revenue just ahead of and adjusted EBITDA behind FactSet consensus. The top-line beat was driven by continued growth in mobile, particularly Call of Duty and Candy Crush. We are maintaining our narrow moat rating and $97 fair value estimate.

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Company Profile

Business Description

Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers. The combined firm remains one of the world's largest video game publishers. Activision's impressive franchise portfolio includes World of Warcraft, which boasts more than $8 billion of lifetime sales, and Call of Duty, which has sold over 175 million copies across 14 titles over 12 years.

Contact
3100 Ocean Park Boulevard
Santa Monica, CA, 90405
T +1 310 255-2000
Sector Communication Services
Industry Electronic Gaming & Multimedia
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Classic Growth
Employees 9,500

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