Activision misses quarterly adjusted sales estimates on subdued demand

FILE PHOTO: The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake/File Photo

(Reuters) -Activision Blizzard Inc, which is being acquired by Microsoft Corp for $68.7 billion, missed market estimates for fourth-quarter adjusted sales on Thursday, as the pandemic-fueled sales boost for its games such as "Call of Duty" showed signs of cooling.

Videogame sales in the United States surged since the start of the pandemic, as people were forced to stay at home amid restrictions on movement to curb the spread of the virus. According to data from research firm NPD, total consumer spending on video games reached a record $60.4 billion in 2021, 8% higher than in 2020.