Analyst: Xbox to make $16 billion in 2023, Activision $10 billion

Microsoft's Xbox revenues are projected to reach $16.9 billion by 2023, and Activision-Blizzard is expected to hit $10 billion.

Published Sun, Jan 23 2022 1:12 PM CST   |   Updated Sat, Feb 19 2022 2:03 AM CST

KeyBanc senior analyst Michael Turits predicts strong revenue growth for both Xbox and Activision-Blizzard by 2023.

Analyst: Xbox to make  billion in 2023, Activision  billion 23 |

Microsoft's $68.7 billion buyout of Activision-Blizzard is expected to close in FY23. By that time, analysts predict both companies will make substantial revenue growth. Keybanc's Michael Turits expects Activision-Blizzard to break the $10 billion revenue mark for the first time in history with a 13-year CAGR growth rate of 6.43%, possibly driven by cost-saving synergies within Microsoft's games division. Activision's last financials show $8.5 billion estimated revenues for calendar 2021.

Analyst: Xbox to make $16 billion in 2023, Activision $10 billion 235 |

Xbox gaming is likewise expected to jump to $16.9 billion, representing a 10% increase over the last reported FY21 period. Microsoft's games segment delivered a record $15.37 billion in FY21 driven by hardware and software synergy surges across game and console sales and subscriptions.

Neither Microsoft nor Activision-Blizzard have delivered revised forecasts to reflect the merger.

Multiple law firms are also scrutinizing and investigating the merger for possible federal securities law violations.

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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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