Activision Account Management

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Please make sure to check the mailbox of the same email address you used to register your Call of Duty account. The email address you used to register your Call of Duty account may be different than the email address you used to create your Xbox LIVE or PSN account. Also, please check your spam folder as the reset email may have accidentally ended up in there. To avoid this in the future, you can add activision.com and callofduty.com to the safe senders list in your spam filter. This way, you will make sure that all emails from Activision or Call of Duty find their way to your inbox. Have the article read to you: Activision might be acquired by Microsoft, but maybe not. In any case, business is booming, in stark contrast to Take 2. But one thing at a time. On Monday, both gaming companies presented figures, but they turned out to be very different.

Takeover by Microsoft

As most of you will know, Microsoft has submitted a for Activision. If the deal goes through after all, they can pocket $95 each by the end of June next year at the latest. However, since the EU antitrust authorities want to examine the deal in detail and have not directly waved it through, there is a significant probability that the takeover will fall through. So you have to plan for that scenario if you’re committed to Activision. The bottom line, in my view, is that it’s a win-win situation. If the deal falls through, Activision’s earnings will probably come under pressure in the short term, but you can participate in the company’s development in the long term. If this happens, Activision will also receive compensation of USD 2.0 – 3.0 billion. All that would matter from then on would be the group’s business figures. And on that front, things are looking good.

It looks good

Activision is a real success story. Over the past decade, revenue has increased from $4.86 billion to $8.80 billion, with nearly all of that growth occurring from 2016. Earnings climbed from $1.18 to $3.72 per share over the same period. So the track record is truly impressive and there are few reasons why the future should not be similarly pleasing. The major game series such as Call of Duty, Warcraft, Overwatch, Diablo and Candy Crush are the main contributors to this. They are true hit guarantors, and that’s what makes the difference in the end. The gaming business is much more cyclical than most investors assume. New titles only generate major revenues for a certain period of time, after which players’ interest naturally wanes. So there’s always a need to produce the next blockbuster, and that’s much easier to do if you build on a well-known and proven series. The concerns of the competition regulators and also those of Sony show how valuable Activision is and the importance of the big game series. Following Sony’s words, “Call of Duty could dramatically shift the power structure in the console market.” This is despite the fact that Activision only has less than a 5% share of the international gaming market. It may only be a few percent, but apparently it’s absolutely crucial.

Activision: outlook and valuation

According to Activision, Call of Duty: Modern Warfare II is selling like hot cakes. In the first ten days after its release on October 28, the game generated sales of more than one billion USD. This beats all predecessors by a long way. We’ll see if Call of Duty: Warzone II is just as successful, as it will be released on November 16. It should already be clear that the new games will boost business considerably. But even without the new growth drivers, things seem to be going well. In Q3, earnings of $0.68 per share were well above expectations of $0.50. Revenue, at $1.78 billion, also beat analyst estimates of $1.70 billion. The new games have not yet had an impact on these numbers, which will not be reflected until the fourth quarter. After significantly exceeding expectations in Q3 and Modern Warfare II seems to be a real box office hit, the previous estimates for the annual profit have to be revised significantly. Previously, it was assumed that earnings would be $2.82 per share this year and only really pick up next year, reaching $3.80 per share. This leads to an interesting consideration. Over the last five years, the P/E ratio has averaged 22.2, and if the valuation rises back to this level, it would result in a 12-month price target of $84.36. There would therefore be considerable potential, even if the forecasts are not increased and the acquisition for USD 95 per share fails. Chart as of 08.11.2022 – Price: 71.10 Symbol: ATVI – Weekly candles The estimates were significantly higher a few months ago, were then screwed down in the general pessimism and now they will have to increase again. This shows that one must enjoy estimates with caution.

Take 2: Caution is the mother of all prudence

Yesterday’s quarterly figures from Take 2 showed how cautious one has to be. Take 2 is also one of the industry giants and has one of the strongest franchises in its portfolio with GTA. However, interest in the group’s games seems to have waned so much that they are no longer making money. The latest figures were downright shockingly bad. Earnings of -1.54 per share were far below expectations of +1.35 USD. Revenue of $1.39 billion also missed analysts’ estimates of $1.52 billion by a wide margin. For the next quarter, a loss of -0.95 USD per share is expected; previously, it was assumed that Take 2 would achieve a profit of 1.45 USD. In terms of revenue, the company is only looking at USD 1.43 – 1.48 billion, whereas the market had previously expected USD 1.66 billion. Given this new insight, it’s no wonder the stock has crashed. It’s more of a miracle that the after-hours drop was only 16.49%. More than 12,000 investors & traders follow me and my daily comments on Guidants. Excellent prices. Excellent service. My broker is LYNX. From now on receive the latest stock market view analysis daily by email Mkt Cap Vol T-High T-Low Displaying the — chart Today’s chart. Activision Account Management.

Anna Hein

Activision Account Management