Stock Analysis on Net
Stock Analysis on Net

Activision Blizzard Inc. (NASDAQ:ATVI)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Activision Blizzard Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended: Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Product sales 408  533  543  700  260  359  656  808  263  464  720  736  384  481  509  695  355  501  645  710  425  528  784 
Subscription, licensing, and other revenues 1,546  1,399  1,245  1,286  1,022  1,037  1,169  1,574  1,249  1,177  1,245  1,306  1,234  1,150  1,217  1,320  1,213  1,069  810  642  565  516  494 
Net revenues 1,954  1,932  1,788  1,986  1,282  1,396  1,825  2,382  1,512  1,641  1,965  2,042  1,618  1,631  1,726  2,015  1,568  1,570  1,455  1,352  990  1,044  1,278 
Product costs (101) (137) (119) (268) (137) (99) (152) (304) (127) (126) (162) (311) (149) (130) (143) (312) (111) (149) (169) (344) (179) (147) (202)
Software royalties, amortization, and intellectual property licenses (37) (33) (82) (69) (9) (51) (111) (156) (20) (49) (146) (100) (37) (75) (88) (81) (42) (80) (128) (97) (62) (70) (141)
Cost of revenues, product sales (138) (170) (201) (337) (146) (150) (263) (460) (147) (175) (308) (411) (186) (205) (231) (393) (153) (229) (297) (441) (241) (217) (343)
Game operations and distribution costs (290) (271) (258) (250) (246) (230) (239) (251) (257) (250) (270) (267) (249) (236) (232) (231) (237) (241) (142) (83) (71) (61) (59)
Software royalties, amortization, and intellectual property licenses (41) (28) (46) (69) (50) (53) (61) (121) (109) (85) (84) (125) (117) (120) (122) (152) (139) (128) (52) (14) (25) (19) (11)
Cost of revenues, subscription, licensing, and other revenues (331) (299) (304) (319) (296) (283) (300) (372) (366) (335) (354) (392) (366) (356) (354) (383) (376) (369) (194) (97) (96) (80) (70)
Cost of revenues (469) (469) (505) (656) (442) (433) (563) (832) (513) (510) (662) (803) (552) (561) (585) (776) (529) (598) (491) (538) (337) (297) (413)
Gross profit 1,485  1,463  1,283  1,330  840  963  1,262  1,550  999  1,131  1,303  1,239  1,066  1,070  1,141  1,239  1,039  972  964  814  653  747  865 
Product development (274) (291) (238) (295) (210) (244) (249) (324) (263) (255) (259) (319) (273) (252) (225) (285) (249) (249) (175) (193) (159) (149) (145)
Sales and marketing (238) (242) (243) (346) (182) (191) (207) (322) (263) (226) (251) (479) (345) (308) (246) (380) (340) (322) (168) (289) (189) (164) (92)
General and administrative (186) (175) (167) (206) (177) (170) (179) (200) (208) (216) (198) (221) (191) (171) (177) (149) (156) (169) (160) (83) (109) (102) (86)
Restructuring and related costs (9) (6) (23) (29) (24) (22) (57) (10) —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Operating income 778  749  612  454  247  336  570  694  265  434  595  220  257  339  493  425  294  232  461  249  196  332  542 
Interest and other income (expense), net (25) (22) (8) (7) 34  (3) (4) (13) (26) (28) (23) (37) (46) (40) (34) (63) (65) (52) (47) (51) (50) (50)
Loss on extinguishment of debt (31) —  —  —  —  —  —  —  (40) —  —  (12) —  —  —  (92) —  —  —  —  —  —  — 
Income before income tax (expense) benefit 722  727  604  447  249  370  567  690  212  408  567  185  220  293  453  299  231  167  409  202  145  282  492 
Income tax (expense) benefit (118) (147) (99) 77  (45) (42) (120) (39) 48  (6) (67) (769) (32) (50) (27) (46) (32) (16) (46) (43) (18) (70) (98)
Net income 604  580  505  524  204  328  447  651  260  402  500  (584) 188  243  426  253  199  151  363  159  127  212  394 

Based on: 10-Q (filing date: 2020-10-29), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-05), 10-K (filing date: 2020-02-27), 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-09), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-06).

Income statement item Description The company
Net revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Activision Blizzard Inc.’s net revenues increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Activision Blizzard Inc.’s operating income increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Income before income tax (expense) benefit Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Activision Blizzard Inc.’s income before income tax (expense) benefit increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Activision Blizzard Inc.’s net income increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.