Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Activision Blizzard Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Product sales	1,642)	2,311)	2,350)	1,975)	2,255)
In-game, subscription, and other revenues	5,886)	6,492)	5,736)	4,514)	5,245)
Net revenues	7,528)	8,803)	8,086)	6,489)	7,500)
Product costs	(519)	(649)	(705)	(656)	(719)
Software royalties and amortization	(231)	(346)	(269)	(240)	(371)
Product sales	(750)	(995)	(974)	(896)	(1,090)
Game operations and distribution costs	(1,324)	(1,215)	(1,131)	(965)	(1,028)
Software royalties and amortization	(148)	(107)	(155)	(233)	(399)
In-game, subscription, and other	(1,472)	(1,322)	(1,286)	(1,198)	(1,427)
Cost of revenues	(2,222)	(2,317)	(2,260)	(2,094)	(2,517)
Gross profit	5,306)	6,486)	5,826)	4,395)	4,983)
Product development	(1,421)	(1,337)	(1,150)	(998)	(1,101)
Sales and marketing	(1,217)	(1,025)	(1,064)	(926)	(1,062)
General and administrative	(1,001)	(788)	(784)	(732)	(822)
Restructuring and related costs	3)	(77)	(94)	(132)	(10)
Operating income	1,670)	3,259)	2,734)	1,607)	1,988)
Interest expense from debt	(108)	(108)	(99)	(90)	(140)
Interest income	165)	5)	21)	79)	65)
Realized and unrealized gain (loss) on equity investment	(1)	28)	3)	38)	—)
Other income (expense)	18)	(20)	(12)	(1)	4)
Other income (expense), net	182)	13)	12)	116)	69)
Loss on extinguishment of debt	—)	—)	(31)	—)	(40)
Income before income tax expense	1,744)	3,164)	2,616)	1,633)	1,877)
Income tax expense	(231)	(465)	(419)	(130)	(64)
Net income	1,513)	2,699)	2,197)	1,503)	1,813)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Activision Blizzard Inc. net revenues increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Activision Blizzard Inc. operating income increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Income before income tax expense	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Activision Blizzard Inc. income before income tax expense increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Activision Blizzard Inc. net income increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Activision Blizzard Inc. (NASDAQ:ATVI)

Income Statement