Sam Boughedda

Investing.com — Activision Blizzard Inc (NASDAQ:)The stock dropped in Monday’s trading session after the company reported first quarter earnings and revenue which were below analyst expectations.

On revenue of $1.8 million, the videogame giant announced a $0.64 per share. According to analysts polled Investing.comOn revenue of $1.82 trillion, EPS is expected to be $0.70

Call of Duty net sales on PC and console declined year-over-year. There was also lower premium sales of “Call of Duty Vanguard” as well as lower engagement in “Call of Duty, Warzone”.

Microsoft (NASDAQ:) plans to acquire Activision Blizzard for $95 per share in an all-cash transaction, which is expected to close in Microsoft’s fiscal year ending June 30. Activision was unable to host a conference, give an earnings presentation or offer financial guidance as a result.

Monday’s decline in stock prices by the company was 1.5%