Activision made more money from mobile in Q2 2022 than all other platforms combined, signalling the importance of breakout hits like Diablo Immortal.
Diablo Immortal is helping buoy Activision-Blizzard earnings amid stabilization of pandemic spending highs. The publisher has reported significant revenue drops The popular mobile game helped Blizzard's mobile earnings skyrocket by 462% year-over-year, and with the help of Candy Crush and Call of Duty Mobile, has catapulted total company mobile earnings.
In Q2 2022, mobile generated $831 million and accounted for 51% of total quarterly earnings. Mobile beat all other segments combined including console ($376 million), PC ($332 million), and other, which includes distribution and Overwatch/Call of Duty League earnings ($105 million).
The largest contributor was King, who made $684 million of the total $831 million net revenues, or about 82%. It was already easy to see why Microsoft wanted to buy Activision before, but with growing mobile earnings like these, the incentives become much more noticeable.
"In addition, we expect to continue to deliver ongoing content for various of our franchises. We will also continue to invest in opportunities that we believe have the potential to drive our growth over the long-term, including continuing to build on our advertising initiatives and investments in mobile titles," Activision CEO Bobby Kotick said in the Q2 earnings report.
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