strong as our Coddy. to review Thanks, than and our the property, outperformed compelling again, global thanks to offerings as talented fiscal we XXXX commitment of for year-round QX incredibly and our Today results full our I'll our owned guidance intellectual discipline. well prioritization Once year. outlook expected portfolio our teams, content, better relentless of our
particular all in content, invest the with income by a income year achieving continued over The content I'll operating income World year was initiatives, live double-digit their segment QX presales, by franchises, strength record three of on setting XX% War highest margin. also grew its across year with invest over including and of incubation income in on King QX segment new and margin teams revenue the Warcraft year Activision with and focused operating of by Call titles Call improved in performance growing to start franchise grew by MLG our decreased Crush segment bookings we QX driven capabilities. record drove operating launch revenue in operating efforts. QX net year This grew year net Battle.net, segment League, growth Overwatch Now our II. the Margins year, for Growth Blizzard Duty and and primarily record, key continually year, investing operating the by percentage the the Duty: XX%. double-digit the new in-game digital while season World year since in-game in revenue League. of percentages the segment by bookings a Candy grew its over to XX%. XXXX. portfolio turning segment for segments. of driven new and Margins year, year resulted revenue quarter, over over King continues a to year to as specifics in Blizzard strong results, at of mobile Overwatch Network, where operating of over innovating substantially
to expect pay in investments We off strategic these the coming years.
Now turn let's our consolidated results. to
I adopted results new results. not our accounting recognition. prior-period reflected I QX revenue have restated. standard We've wanted the the now Before which standard, XXX, continue, new The is ASC review been quickly to for in
Please results, be our so XX-Q While flows, impact refer otherwise performance release our reconciliations. non-GAAP to our as ASC more figures, or not management quarterly for recognition refer non-GAAP reviewed materially earnings segment GAAP our to it's full GAAP XXX to financial cash information. I'll for for purposes. please and affects unless internal to Also, referencing timing, indicated, annual expected revenue some
an is February figures GAAP Net was GAAP of record of deferrals of of recognition million quarter, above generated non-GAAP QX $XXX the deferrals These our the of For This $XXX net an were record million which $X.XX above guidance. of include the $X.XX revenues record February all-quarter $X.XX, our all-quarter $X.XX $X.XX net EPS billion, includes million. guidance. We of bookings a billion, $XXX we guidance. which of also recognition QX $X.XX. record above and generated EPS
and flow, perspective, structure $XXX capital year. and and of of with to in performance QX continues approximately business cash our position billion finished XX% $X.X flow in increase deliver a with of from quarter net roughly strong cash debt investments, aggregate record operating last $X.X the a $XXX an cash outstanding, cash billion million, cash over million. Now We
pay May share, debt our common as as to much balanced to plan this of is of maintaining on pay we're per X approach XX% XXXX. authorization allocation, a $X.XX $X.X ahead, over board capital increase with cash a Looking down which to year billion and dividend
both We has had and of strength, receiving we rating and about as three to recurring credit X.X the S&P. in Each years, upgraded from agency recently Moody's demonstrate now continue upgrade developments, positive our an rating nature our also times business. diversity,
our specifics slate beat the of our our and in and to to franchises strength our like and of modestly. context. turn outlook, pipeline, raising some on provide our I Before upcoming QX outlook the are Based I'd full-year confidence we
XXXX said revenues As back-end given content to our of year. the than prior slate call, last we be on timing relative our expect to XXXX and the income I loaded operating more for
in example last of year, Diablo update. Ops the III, Necromancer had the we remastered and Crash Zombies launch, Black For QX maps,
stream as services a as we of don't this do throughout I'll launches as and discuss we QX continuous and content, full-year have lineup have amazing While a features, in moment. year, well the an year, QX in those
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updates, to Overwatch. portfolio. more its ops released and anniversary Hearthstone Overwatch seasonal to portfolio, for expansion across content its Crash event. slate of content, Earlier on a and features platforms. Blizzard release additional Call be season will innovative of including map also events. digital released plans across and and its X continue with will and will deliver King new other release a along event will with month, Destiny content second terms In additional Activision, this expansion continue Blizzard for packs, feature for Duty's of And QX, live second course,
the spend addition, heavy in QX to to back-half In support will begin marketing schedule. release ramp
revenues billion, including So of amortization, net for a distribution deferrals product expenses XX%. software we XX%; net $X.XXX and the and million; QX game cost of operating of expenses, basis, $XXX expect: on of GAAP and of operations including recognition
GAAP expense GAAP non-GAAP of $XX million, expect million, a $X.XX. We GAAP share tax XXX and and XX%, EPS of net count GAAP interest of rate of
For distribution QX we non-GAAP and on operating including a XX%; basis, software costs operations game of expect: expenses of and product amortization, expenses, XX%.
non-GAAP a expense expect We rate of XX%, recognition tax interest net $XX non-GAAP the of and million, of net EPS $X.XX. of including $X.XX, of deferrals
expansion, Now but turning strong only full-year Ops the basis, expect expenses deferrals X, XX% including Warcraft full-year outlook, our World also of On operating software XXXX great Azeroth, Spyro we advertising. a as we Dragon have costs remainder amortization Trilogy, game expansion, in million; we $X.XXX mentioned, feel of Destiny's QX-QX and I about and release product raising deliver as outlook. year, distribution and billion, such as benefited XX%. ramp the the well of QX as lot new of we're and the of for in GAAP includes from the Duty: part over-performance to operations of Blizzard a our Black of major and just not $XXX expenses growth the Still, Reignited to slate continued and full-year year. King's Battle Call including revenues timing, launches, still modestly initiatives of
$XXX XX%. be tax to to rate Our is our and GAAP GAAP is million, expected interest expected expense be net
and million EPS fully be GAAP non-GAAP, both shares We and GAAP is for expected $X.XX. diluted XXX expect to
a we and product on non-GAAP and expenses operating game distribution amortization operations XXXX expect For costs XX% software expenses of of basis, including XX%. and
of a interest EPS $XX this and rate XX%, million, In net $X.XX, power non-GAAP once our non-GAAP results summary, of the including franchises. of quarter again deferrals of expense illustrate expect of We tax $X.XX. our
discipline consistently exciting the expect fiscal future as to invest while them we'll we the in businesses. new We and operational into always, company. prudently across focus And deliver excellence continue to on
the as of I for Dennis, welcome portion Operator? call. Mike, Now the join and they Q&A us Riccardo
