Activision Blizzard Inc forecast fourth-quarter adjusted revenue below estimates...
) forecast fourth-quarter adjusted revenue below estimates, as the video game publisher faces stiff competition from online, free-to-play games.
The company expects current-quarter adjusted revenue of $2.65 billion, missing analysts’ average estimate of $2.75 billion, according to IBES data from Refinitiv. Traditional publishers of console-based, desktop games are facing stiff competition from the increasing popularity of online, free-to-play games like “PUBG”, Epic Games’s “Fortnite” and Electronic Arts’ “Apex Legends”.
The mobile version of “Call of Duty” launched on Oct. 1 racked up 100 million downloads worldwide in its first week, according to industry site Sensor Tower.
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