This was confirmed via the company's financial results for the three months ended March 30th, 2021, where revenues came in at $2.3 billion. This represented a 19 per cent year-on-year increase, with 88 per cent being generated by digital downloads and distribution. Activision Blizzard earned $1.12 per share, compared to $0.75 per share 12 months ago.
However, net bookings equalled $1.9 billion, down from $2.1 billion during the same period in 2020. The difference between net bookings and revenues is due to US accounting rules in terms of how bookings are spread across different accounting periods. Activision Blizzard ended the quarter with $9.6 billion in cash and other investments.
"With respect to our financial performance, we are pleased that the company continued to deliver strong results in the second quarter, and we are raising our outlook for the year," said Activision Blizzard CEO Bobby Kotick.
In terms of the split between the company's three main divisions: Activision generated 42 per cent of revenue and Blizzard claimed 23 per cent while its mobile specialist King made up 33 per cent.
In particular, King experienced record revenues and operating income for the second quarter; bringing in $635 million and $248 million respectively. This was driven by double-digit growth from the Candy Crush and Farm Heroes series. Crash Bandicoot: On the Run was also mentioned as a strong performer, while in-game advertising doubled year on year to exceed $300 million in terms of a rolling 12 month total.
Activision's mobile revenue also impressed as Call of Duty Mobile hit a quarterly record. The shooter is now on track to generate $1 billion during 2021.
Activision Blizzard is currently in the middle of two lawsuits: one from the California Department of Fair Employment and Housing and another by its investors.
The company also announced that a new mobile game in the Call of Duty universe is in the works.