Earnings release
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ACTIVISION BLIZZARD ANNOUNCES FIRST - QUARTER 2021 FINANCIAL RESULTS Santa Monica , CA – May 4 , 2021 - Activision Blizzard , Inc. ( Nasdaq : ATVI ) today announced first - quarter 2021 results . " Our employees continue to demonstrate exceptional performance under challenging circumstances , " said Bobby Kotick , CEO of Activision Blizzard . " That relentless drive across our franchises produced strong first quarter results that were well ahead of expectations . Our continued overperformance enables us to raise our outlook for the full year . " Financial Metrics Better - Than - Expected and Record Q1 Results ( in millions , except EPS ) GAAP Net Revenues Impact of GAAP deferrals GAAP EPS Non - GAAP EPS Impact of GAAP deferrals 2021 $ 2,275 ( $ 209 ) $ 0.79 $ 0.98 ( $ 0.14 ) Q1 Prior Outlook * $ 2,015 ( $ 265 ) Operating Metrics $ 0.59 $ 0.84 ( $ 0.19 ) 2020 $ 1,788 ( $ 266 ) $ 0.65 $ 0.76 ( $ 0.18 ) * Prior outlook was provided by the company on February 4 , 2021 in its earnings release . Please refer to the tables at the back of this earnings release for a reconciliation of the company's GAAP and non GAAP results . For the quarter ended March 31 , 2021 , Activision Blizzard's net revenues presented in accordance with GAAP were $ 2.28 billion , as compared with $ 1.79 billion for the first quarter of 2020. GAAP net revenues from digital channels were $ 2.01 billion . GAAP operating margin was 35 % . GAAP earnings per diluted share were $ 0.79 , as compared with $ 0.65 for the first quarter of 2020. On a non - GAAP basis , Activision Blizzard's operating margin was 43 % and earnings per diluted share were $ 0.98 , as compared with $ 0.76 for the first quarter of 2020 . For the quarter , operating cash flow was $ 844 million , as compared with $ 148 million for the first quarter of 2020. For the trailing twelve - month period , operating cash flow was $ 2.95 billion . Please refer to the tables at the back of this press release for a reconciliation of the company's GAAP and non GAAP results . For the quarter ended March 31 , 2021 , Activision Blizzard's net bookings were $ 2.07 billion , as compared with 1