Activision Blizzard (NASDAQ: ATVI) just wrapped up a record year, with full-year net bookings crossing the $8 billion level for the first time. Even better was the performance on the bottom line, with non-GAAP earnings per share increasing by an impressive 39% over 2019.
It will be tough to repeat that performance in 2021. Management’s early guidance for the year calls for bookings to improve by just $31 million to reach $8.45 billion, which would still be another record.
What has investors most excited right now is what management said about 2022, in which Chief Operating Officer Daniel Alegre expects another “step change in financial performance.” Here’s why.