Activision likely to beat $7.6 billion outlook on Call of Duty success

Activision expects to make a historic $7.765 billion in 2020, but it could beat that forecast thanks to Call of Duty's sales.

1 minute & 42 seconds read time

Activision-Blizzard expects to make a historic $7.765 billion in 2020, driven by spending surges in its biggest games. Analyst numbers indicate could actually beat this estimate.

Activision likely to beat $7.6 billion outlook on Call of Duty success 8

As of September 30, 2020, Activision-Blizzard forecasts $7.675 billion in net revenues for the 2020 calendar year, up a whopping $175 million from 2018's all-time highs. The company's Q4 performance might skyrocket it past these internal estimates.

While Activision-Blizzard's Q3'20 was no slouch (it hit a 10-year operating profit high, Activision segment earnings were up 270% to $773 million thanks to Warzone), Q4'20 could be a real home run. According to the NPD Group, two Call of Duty games dominated 2020's sales revenues charts: Black Ops Cold War and Modern Warfare were the best-earning games in the U.S. in 2020.

Activision likely to beat $7.6 billion outlook on Call of Duty success 32

This isn't the only knockout success Activision-Blizzard has enjoyed in Q4. World of Warcraft Shadowlands is now the fastest-selling PC game of all time with 3.7 million copies sold in a single day. Typically the company doesn't see huge surges in sales in two of its segments at the same time; Blizzard aims at recurring revenues with existing titles via monetization, whereas tentpole Call of Duty releases round out the Q4 holiday period with a big sales surge.

These sales are all in tandem with the new interconnected Call of Duty ecosystem, which consists of mobile games, free-to-play monetization via Warzone, and two mainline premium games all existing and making money at the same time. This ecosystem is a direct result of Activision's new four-part plan that diversifies franchises and IPs across all available platforms.

Right now it appears Activision-Blizzard is firing on all cylinders, and its Calendar Year 2020 period could be eye-opening for investors, competitors, and consumers.

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Call of Duty: Black Ops Cold War (PS5)

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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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