Income Statement
Quarterly Data
The income statement presents information on the financial results of a company 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.
Paying user area
Try for free
Activision Blizzard Inc. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2008
- Current Ratio since 2008
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Activision Blizzard Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Activision Blizzard Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Revenue Trends
- Net revenues show seasonal fluctuations with peaks consistently in the fourth quarter of each year, indicating strong year-end performance. The highest peak is observed in December 2020 at $2,412 million, after which revenues fluctuate but remain elevated compared to earlier years. Product sales display variability with significant declines in some quarters, such as September 2018 and September 2022, while in-game, subscription, and other revenues tend to show a general upward trend over the long term, growing from $1,245 million in March 2018 to $1,687 million in June 2023.
- Cost of Revenues
- Cost of revenues follows a somewhat proportional pattern with net revenues, showing higher costs during quarters with higher revenues, especially in year-end periods. It peaks notably in December 2018, 2020, and 2022, with values such as -$832 million, -$817 million, and -$756 million respectively, indicating increased operational expenses associated with higher sales volumes. Within cost components, product costs and software royalties/amortization fluctuate but generally rise during higher revenue quarters, aligning with product sales activity and software licensing expenses.
- Gross Profit
- Gross profit demonstrates a similar seasonal pattern to revenues, with peaks in fourth quarters and dips in intervening quarters. The highest gross profit is achieved in June 2021 at $1,741 million. Despite some fluctuations, gross profit remains generally strong and improves over the years, reflecting effective management of cost relative to sales growth, particularly influenced by the rise in in-game and subscription revenue streams.
- Operating Expenses
- Operating expenses including product development, sales and marketing, and general and administrative costs show moderate variability across quarters. Product development expenses progressively increase, notably reaching -$487 million in December 2022, which suggests increased investment in new products or enhancements. Sales and marketing expenses also trend upwards, with spikes around major sales periods such as year-end quarters. General and administrative costs exhibit less pronounced seasonality but slightly increase over time, potentially reflecting organizational growth. Restructuring and related costs are infrequent and sporadic, with small impacts mainly in 2018 and 2020–2022.
- Operating Income and Profitability
- Operating income exhibits quarterly volatility but maintains positive values in all reported periods. The peak occurs in June 2021 at $959 million, reflecting strong operational performance. Despite some dips, operating income remains resilient, supported by growing revenues and controlled expenses. Interest expenses from debt impact net income from mid-2021 onwards, with notable charges around June and December quarters. Other income (expense), net, is variable, showing occasional significant positive spikes as seen in 2023, boosting overall profitability in those quarters.
- Income Before Tax and Net Income
- Income before income tax generally follows operating income trends, with peaks in June 2021 and March 2023. Income tax expenses fluctuate widely, causing notable variances in net income margins. Net income mirrors income before tax with seasonal highs and lows, maintaining profitability throughout all periods. The highest net income figure is $876 million in June 2021, emphasizing a period of strong earnings. While net income experiences occasional declines, overall it reflects a healthy financial position bolstered by diversified revenue streams and controlled cost structures.