All Thanks, non-GAAP are growth QX referencing outlook first Daniel. our indicated, review release quarter. will for I otherwise be to GAAP unless Today, and I our results comparisons reconciliations. refer XXXX full non-GAAP earnings to for figures. XXXX year-over-year well and the Please will our as as
XX% a our net increased all our grew EPS bookings substantially were revenues franchises in initiatives XX% outlook. income XX%, and key year-over-year, for This results year highs. XX%, full was Our successful reaching which new several of grow setting year original grew growth saw operating above GAAP record
bookings Net figures billion. For generated These EPS $X.XX year, and include of of net EPS revenues we $X.XX. non-GAAP GAAP $X.X billion million. GAAP were the We this $XXX $X.X of deferrals of the net diluted $X.XX. of generated includes deferral
quarter non-GAAP a were fourth GAAP of business lower our reflecting prior the EPS Over ahead and tax overperformance and rate. outlook
Now let's at look segment results.
Duty to XX%. For expanded grew XXX% of points operating margin to income Operating approximately Call the increased percentage full with XX%, revenue Activision doubling. year revenues X and
titles QX the margin. Call quarter absence year-over-year, was an of X income World margin Activision of lower XX%, Operating full launch of operating of marketing margin for grew driven rose percentage was by and revenue in to slightly with primarily lower million of in was and of development XX% year-over-year billion quarter. year Shadowlands. a income $XXX income in operating expansion increased primarily operating increased revenue revenue by Blizzard's and as for by Operating with XX%, costs a the $XXX quarter. XX%. behind million operating investment XX% point other grew game million XX% was Blizzard For the offset Warcraft decline BlizzCon the Blizzard $X.XX fourth growth and $XXX the Duty amortization of of revenues. driven
revenue QX X% income For with operating expanding advertising net year driven X of margins million points. year-over-year XX% advertising. King full points both bookings grew higher in income $XXX the Operating King strongly. XX% by operating and grew growing year-over-year with incremental revenue $XXX X in-game from growing and with margin percentage to million an was margin XX%, high
payments to XX% statement performance the billion, income Annual XX% record net to bookings, cash grew flow. grew operating digital XX% cash also recurring higher bookings. Our to XX% total and XX% to reach and more revenue grew driving bookings settlements. business continues $X.X time. year flow bookings net streams of cash A to tax for net digital shift net structurally drove represent margins over on full In year-over-year of record in-game XXXX despite
cash capital free defined to XX% less full the flow billion. $X.X operating cash For year as grew flow expenditure
Our $X.X investments at of cash net end billion December of the billion. approximately was with approximately cash $X.X
capital with XXXX Turning and We balance flexibility. a strong to significant sheet allocation. enter
approach Board annual repurchase has $X.XX XXth a an and in in our repurchase continue prior take And balanced an billion year billion capital $X.X mind, row a new of increase share year two-year, per authorization, the increase over year, for this May. allocation. to the we in authorization. always increase to dividend, be With a an authorized from share $X adopted our which XX% disciplined to also payable As this will share, in our prior has our Board
to Now our outlook XXXX. let's turn for
due strong franchises. provide structural driving was First, of some largest owned to product will Much XXXX success I and in our execution, commercial improvements in context. our
of While we entering believe in are our a our XXXX the Overall, requirements initiatives we the momentum ahead even pipeline has franchises restriction Activision we continued expect full pipeline momentum we with grow of benefited strength, where content content year year in of that XXXX. for fantastic eased. markets and segments growth enable each all to from biggest in-game have a income various we shelter-at-home for are seeing will with Duty and enters strong across operating of and Call platforms.
of benefit we as have and in-game outlook, substantial Ops release In will War to community Warzone full premium investment, lower assuming to to another incremental year driving premium our well Black Call our in the content a are XXXX. player from of strong are Cold opportunity we continue as upgrades migrating units premium Duty QX and year-over-year. We planned conservatively a for
opportunities platforms with the the of Mobile in bookings including Duty China of across all growth Duty we Call net expect for in do overall of franchise. up Call in However, ramp in-game
We we bookings in given other of expect and growth World momentum the initiatives to the have the Warcraft Blizzard's grow net in business.
IV not the well, any Overwatch in launch And Diablo contribution launching title in we is XXXX. material anticipate have our Immortal Our and don't does from include outlook we while X progressing Diablo presently. or outlook this its year later
non-GAAP titles. XXXX record and outlook increasing the of margin mix contribution GAAP customary the with Crash improvement from ongoing benefits top Crush discipline. for purchases We little year-over-year off and performance advertising. expect from an perspective, growth in release revenues our of and Candy growth King From reflects in ongoing is Bandicoot: operational further On mobile in-app digital the a by Run line margin as at new We assume primarily relatively across operating building both margin
of basis On to billion, let's XXXX, the billion. of expect GAAP revenues numbers. including Now for deferrals a $XXX net $X.XX turn we
of GAAP GAAP million, We GAAP and and non-GAAP operating net $X.XX. $X.XX XX%, margin EPS of bookings expect A of billion. count share of XXX
we expect basis, and non-GAAP non-GAAP deferrals an including of a XX% EPS operating net on of $X.XX. of $X.XX XXXX margin For
QX to Now expect billion, QX, On turn $X.XX we basis revenues deferrals million. $XXX GAAP the of outlook. our let's of recognition a of for net including
bookings billion count We $X.XX. GAAP and EPS margin operating net of and GAAP million, $X.XX a of XXX expect XX%. share non-GAAP of GAAP of
believe expand we there deferrals year following actions a and reached of much indicates, But margin on non-GAAP basis, the And $X.XX. company. EPS largest including our is to a a was net more $X.XX, has to the XXXX new QX XX% recognition our operating of the For an higher XXXX outlook business structurally record for of as we of come. In franchises. summary, financial expect our profile non-GAAP
and Our as of forward we for the looking pipeline most plans content in look never has beyond delivering easily XXXX been are anticipated some we and the stronger to XXXX industry.
to cadence to in our we performance regular release Call change titles Candy mobile major PC next year. addition and across World Blizzard to In and content Crush of new financial of of the contributing another Warcraft Duty, across for console, step company expect
our against to strong value delivering continue that confident will deliver the long shareholder plans are term. over We
Jay, I Operator? welcome Now leaders for Humam Q&A Rob join and business of portion the call. our as they us the
