Blizzard Entertainment's mobile segment earnings are up 462% year-over-year thanks to Diablo Immortal's release in June.
Activision-Blizzard just posted up its Q2 2022 earnings, and while overall revenues and metrics are down, game segments like Blizzard are showing growth in key platforms. Blizzard's mobile revenues hit $90 million in Q2'22, up 462% over the $16 million earned in Q1'22.
In terms of raw earnings, mobile only generated $28 million in revenues for Blizzard during the period. However the company recognized $62 million in deferred revenues to boost total earnings to $90 million. These revenues likely reflect the release of Diablo Immortal.
Every quarter, major publishers like Activision, EA, and Ubisoft defer a portion of revenues to be recognized later down the line, primarily when a project releases or matures--in this case, Diablo Immortal's release in June triggered the $62 million deferral to be recognized as revenues.
Despite its controversial microtransactions, Diablo Immortal has proven to be immensely successful. Analyst firm SensorTower estimates Diablo Immortal has made over $100 million on mobiles so far. Blizzard's new ARPG actually made $100 million faster than Fortnite did on mobile devices.