Activision Blizzard releases financial results four times a year and during their call, they will discuss their games and how well they are doing. Hearthstone will usually get mentioned and because of this, we've compiled all the times the game has been mentioned which makes for an interesting piece of conversation. Getting little insights into how the game is growing is nice to know.

Here are all the times that Hearthstone was mentioned, or not, in Activision Blizzard's quarterly earnings calls. Press releases can be found on Activision Blizzard's investor website.


Q3 2022

There were no mentions of Hearthstone in the quarterly earnings.


Q2 2022

Quote From Activision Blizzard

Blizzard’s second quarter segment revenue and operating income were lower year-over-year but higher versus the first quarter. World of Warcraft net bookings declined versus a year-ago quarter that included the launch of Burning Crusade Classic, offsetting year-over-year growth for Hearthstone® and the contribution from the June launch of Diablo Immortal.


Q1 2022

Quote From Activision Blizzard

Blizzard continues to work on numerous new experiences to delight and expand the Warcraft community. The newest Hearthstone® expansion, Voyage to the Sunken City, launched on April 12. Blizzard’s teams are working on major new content for World of Warcraft® including World of Warcraft: Dragonflight, the innovative upcoming expansion for the modern game, and World of Warcraft: Wrath of the Lich King® Classic. Blizzard is also planning to unveil more details about its first Warcraft mobile experience in the coming weeks.


Q4 2021

Quote From Activision Blizzard

Within the Warcraft franchise, fourth quarter World of Warcraft reach and engagement continued to benefit from the combination of the Modern game and Classic under a single subscription. In 2021, World of Warcraft delivered its strongest engagement and net bookings outside of a Modern expansion year in a decade. Hearthstone fourth quarter net bookings grew year-over-year, driven by a steady cadence of new content.

Blizzard is planning substantial new content for the Warcraft franchise in 2022, including new experiences in World of Warcraft and Hearthstone, and getting all-new mobile Warcraft content into players’ hands for the first time.


Q3 2021

Quote From Activision Blizzard

Hearthstone net bookings were stable year-over-year in the third quarter. In October, the team launched Mercenaries, an innovative role-playing mode that gives existing, returning and new Hearthstone players an entirely new way to play the game.


Q2 2021

Quote From Activision Blizzard

The latest expansion of the Hearthstone franchise, Forged in the Barrens, delivered expansion-over-expansion net bookings growth for a second consecutive release following its March launch. With the latest expansion, United in Stormwind, launching today, and Mercenaries, a new mode in the popular role-playing genre planned for the coming months, we expect the financial performance of Hearthstone to strengthen in the second half of the year.


Q1 2021

Quote From Activision Blizzard

Hearthstone’s latest expansion, Forged in the Barrens, launched on March 30 and is on track to deliver expansion-over-expansion net bookings growth for the second consecutive release.


Q4 2020

There were no mentions of Hearthstone in the quarterly earnings.


Q3 2020

Quote From Activision Blizzard

Hours played in Hearthstone grew year-over-year in the third quarter, with the Battlegrounds mode seeing sustained strong engagement since its release last November. This November will see the broad release of Duels, a new player-versus-player mode, alongside a new in-game progression system and the latest expansion, Madness at the Darkmoon Faire.


Q2 2020

Quote From Activision Blizzard

Hearthstone’s Ashes of Outland expansion launched alongside a new hero class, as the expanded team continued to accelerate the pace of innovative content in the franchise.


Q1 2020

Quote From Activision Blizzard

Hearthstone engagement improved sequentially, driven by the new Battlegrounds game mode launched in November, and strong execution in live operations.


Q4 2019

Quote From Activision Blizzard

Hearthstone launched the Descent of Dragons expansion and rolled out the new Battlegrounds game mode in the fourth quarter, which drove sequential growth in engagement. Net bookings also grew sequentially for the franchise.


Q3 2019

Quote From Activision Blizzard

Hearthstone’s Descent of Dragons expansion, set for release in the fourth quarter of 2019, and the new Battlegrounds auto-battler mode, which is already in early access and enters open beta on November 12, 2019,


Q2 2019

Quote From Activision Blizzard

Activision Blizzard outperformed our second quarter outlook, reflecting strong creative and commercial execution as we continued to reposition the business for future growth. Across Call of Duty, Candy Crush, Warcraft, Hearthstone, Overwatch, and Diablo, we are expanding our development teams so that we can accelerate the delivery of content in our pipeline, pursue new business models, broaden our communities, and delight our players

Blizzard had 32 million MAUs. Hearthstone MAUs grew quarter-over-quarter following the release of the Rise of Shadows expansion and The Dalaran Heist single-player Adventure.


Q1 2019

There were no mentions of Hearthstone in the quarterly earnings.


Q4 2018

Quote From Activision Blizzard

Blizzard had 35 million MAUs in the quarter, as Overwatch and Hearthstone saw sequential stability and World of Warcraft® saw expected declines post-expansion-launch.

The number of developers working on Call of Duty, Candy Crush, Overwatch, Warcraft, Hearthstone and Diablo in aggregate will increase approximately 20% over the course of 2019. The company will fund this greater investment by de-prioritizing initiatives that are not meeting expectations and reducing certain non-development and administrative-related costs across the business. The company is also integrating its global and regional sales and go-to-market, partnerships, and sponsorships capabilities.


Q3 2018

Quote From Activision Blizzard

Blizzard had 37 million MAUs in the quarter. World of Warcraft: Battle for Azeroth set a new day-one franchise record with more than 3.4 million units sold-through. World of Warcraft engagement grew strongly quarter-over-quarter. Hearthstone® recently surpassed the 100 million life-to-date registered player milestone.


Q2 2018

Quote From Activision Blizzard

Pre‐purchases for the upcoming Hearthstone expansion, The Boomsday Project, are tracking ahead of any prior expansion at the same point in time pre‐release.


Q1 2018

Quote From Activision Blizzard

Hearthstone continues to reach and engage its large global audience through multiple efforts including a new promotional bundle, expansion, and player‐versus‐environment mode, Monster Hunts, which has had strong engagement.


Q4 2017

Quote From Activision Blizzard

Blizzard had 40 million MAUs for the quarter. While down sequentially, this is the 6th quarter in a row with 40 million or more MAUs, primarily driven by Overwatch and Hearthstone.


Q3 2017

Quote From Activision Blizzard

Blizzard's Hearthstone: Knights of the Frozen Throne expansion led to double-digit percentage growth in time spent year-over-year for the franchise.


Q2 2017

Quote From Activision Blizzard

Hearthstone MAUs grew year-over-year and quarter-over-quarter to an all-time record, driven by its expansion, Journey to Un'Goro.

Blizzard's Overwatch, Hearthstone, World of Warcraft, and Diablo III, which debuted new content during the quarter, drove strong in-game participation


Q1 2017

Quote From Activision Blizzard

Hearthstone MAUs grew year-over-year and quarter-over-quarter, despite no content releases in the first quarter, and recently surpassed the 70 million registered player milestone life-to-date.

Hearthstone set a new all-time Daily Active Users (DAUs) record last month with the release of a new expansion, Journey to Un'Goro.


Q4 2016

Quote From Activision Blizzard

Also, Hearthstone had its highest annual MAUs in 2016, growing more than 20%, in part due to the fourth-quarter expansion, Mean Streets of Gadgetzan.


Q3 2016

Quote From Activision Blizzard

Blizzard’s Hearthstone®: Heroes of Warcraft had record quarterly MAUs, which grew a double‐digit percentage year‐over‐year.

On August 11th, 2016, Blizzard launched One Night in Karazhan, a new Adventure for Hearthstone: Heroes of Warcraft, which performed even better than its predecessor.


Q2 2016

Quote From Activision Blizzard

Blizzard had the biggest quarterly online player community in its history, with MAUsA of 33 million, up 29% quarter-over-quarter and 13% year-over-year. This reflects the successful launch of Overwatch and strength across the broader portfolio, including Hearthstone: Heroes of Warcraft, which had record quarterly MAUs, and World of Warcraft, which had double-digit MAU growth quarter-over-quarter and year-over-year.

Blizzard’s Hearthstone: Heroes of Warcraft had record total quarterly time spent with the launch of the Whispers of the Old Gods expansion.

Blizzard had its biggest segment revenue quarter and first half year, ever. Blizzard's quarterly segment operating income nearly tripled vs. the second quarter last year. Additionally, Blizzard had record second quarter GAAP revenues and record quarterly non-GAAP revenues (as previously defined) in China. Blizzard’s overall performance was driven in particular by Overwatch’s outstanding launch, World of Warcraft’s strong pre-expansion momentum, with Legion pre-purchases tracking in-line with the previous expansion, and Hearthstone: Heroes of Warcraft’s double digit revenue growth year-over-year. 

On August 11, 2016, Blizzard plans to release a new adventure for Hearthstone: Heroes of Warcraft. The adventure, One Night in Karazhan™, will offer single-player content and the ability to earn new cards for multiplayer duels.


Q1 2016

Quote From Activision Blizzard

Blizzard had the biggest Q1 online player community in its history, with MAUs of 26 million, up 23% year-over-year, reflecting strong engagement with the broader portfolio. Hearthstone: Heroes of Warcraft surpassed the 50 million registered player milestone.

Blizzard’s Hearthstone: Heroes of Warcraft delivered 20% non-GAAP revenue growth, compared to the prior-year quarter.

On April 26, 2016, Blizzard released the third expansion for Hearthstone: Heroes of Warcraft, Whispers of the Old Gods, which has 134 new collectible cards. Following the launch of the expansion, the game reached a record number of daily active users and hours per daily active user.


Q4 2015

Quote From Activision Blizzard

On November 6, 2015, Blizzard Entertainment revealed that Hearthstone: Heroes of Warcraft had surpassed the 40 million‐registered‐player milestone. On November 12, 2015, Blizzard launched The League of Explorers, the third adventure for the franchise, with 45 new cards. This Adventure sold over 20% more units as of the first 6 weeks after launch than the prior Adventure in the same time frame. As a result of this new content, and continued strength across platforms and geographies, Hearthstone hit all‐time franchise highs in multiple categories, including MAUs, at the end of Q4.


Q3 2015

Quote From Activision Blizzard

On August 24, 2015, Blizzard Entertainment launched The Grand Tournament, the second expansion for Hearthstone: Heroes of Warcraft, with over 130 new cards. As a result of this new content, continued strength on mobile, and continued strength across geographies, key engagement metrics grew 77% year-over-year and set a new quarterly revenue record for the franchise.


Q2 2015

Quote From Activision Blizzard

Blizzard Entertainment’s Hearthstone: Heroes of Warcraft and Heroes of the Storm, and Activision Publishing’s Destiny combined now have more than 70 million registered players and over $1.25 billion in non-GAAP revenues life-to-date.

On April 2, 2015, Blizzard Entertainment launched Blackrock Mountain, the second Adventure for Hearthstone: Heroes of Warcraft. The release of Hearthstone on iOS and Android smartphones followed on April 14, 2015. Key engagement metrics, which were already very strong, nearly doubled year over year, largely on account of the new content and new platforms.

Blizzard Entertainment achieved record revenues and MAUs in China this quarter, driven by the popularity of Diablo III, Hearthstone: Heroes of Warcraft, and Heroes of the Storm.

On July 22, 2015, Blizzard Entertainment announced The Grand Tournament, the second expansion to Hearthstone: Heroes of Warcraft, which will launch with over 130 new cards and new mechanics this month.

One of the biggest attractions at BlizzCon will be the culmination of this year’s Road to BlizzCon eSports tournaments, with the global champions for World of Warcraft, StarCraft II, Hearthstone, and Heroes of the Storm being crowned.

Life to date, combined GAAP revenues from Hearthstone: Heroes of Warcraft, Destiny, and Heroes of the Storm were over $1 billion.


Q1 2015

Quote From Activision Blizzard

Activision Publishing’s Destiny and Blizzard Entertainment’s Hearthstone: Heroes of Warcraft combined now have more than 50 million registered players and nearly $1 billion in non‐GAAP revenues life‐to‐date.

Blizzard Entertainment’s Hearthstone: Heroes of Warcraft had steady engagement and revenues quarter over quarter, despite no new content releases this quarter. This was driven by sustained pickup of the Goblins vs Gnomes expansion content, which was released in the previous quarter.

On April 2, 2015, Blizzard Entertainment released Blackrock Mountain, the second Hearthstone: Heroes of Warcraft Adventure. Additionally, on April 14, the game was released on iOS and Android mobile phones. The smartphone release helped propel the franchise to over 30 million registered players and the #1 download spot for mobile games in more than 25 countries.

Life to date, combined GAAP revenues from Hearthstone: Heroes of Warcraft and Destiny were more than $760 million.


Q4 2014

Quote From Activision Blizzard

Kotick, added, “We expanded our franchise portfolio by launching two of the industry’s most successful new brands, Blizzard’s Hearthstone: Heroes of Warcraft™, and the biggest new IP launch in industry history, Destiny. Combined, these franchises attracted over 40 million registered players worldwide and generated more than $850 million in non‐GAAP revenue. This year, we expect to expand our franchise portfolio to 10 blockbusters, up from five franchises at the beginning of 2014. Our amazingly talented teams will continue to produce the world’s best content for gamers.”

On December 8, 2014, Blizzard Entertainment launched Goblins vs Gnomes, the first expansion for Hearthstone: Heroes of Warcraft. The release of Hearthstone: Heroes of Warcraft on Android tablets followed on December 15, 2014.

In January 2015, Blizzard Entertainment’s Hearthstone: Heroes of Warcraft reached more than 25 million registered players.

During calendar year 2014, combined GAAP revenues from Hearthstone: Heroes of Warcraft and Destiny were more than $450 million. The difference in GAAP and non‐GAAP revenues represents the net change in deferrals of revenues of approximately $400 million.


Q3 2014

Quote From Activision Blizzard

Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “Our record third-quarter results were driven by Destiny®, the biggest new videogame franchise launch of all time, as well as strong sales from Blizzard Entertainment’s Diablo® III: Reaper of Souls - Ultimate Evil Edition,
Hearthstone®: Heroes of Warcraft, which now has over 20 million registered players, and World of Warcraft, which saw a quarterly increase in subscribers to 7.4 million in anticipation of the upcoming Warlords of Draenor release. We are raising our full-year non-GAAP outlook and we expect to deliver double-digit non-GAAP revenue growth year-over-year and record non-GAAP earnings per share.”

During the quarter, Blizzard Entertainment’s newest franchise, Hearthstone: Heroes of Warcraft, exceeded 20 million registered users life to date.


Q2 2014

Quote From Activision Blizzard

Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “Our better-than expected performance was driven by continued strong digital sales from Blizzard Entertainment’s World of Warcraft, Diablo III: Reaper of Souls and Blizzard Entertainment’s newest franchise, Hearthstone: Heroes of Warcraft, which recently launched on the iPad and continues to be well received by audiences around the world, as well as digital sales from Activision Publishing’s Call of Duty. Based on our results, we are raising our full-year outlook and we expect to grow our nonGAAP revenues year-over-year and deliver record non-GAAP earnings per share for the full year.”

Earlier this quarter, Blizzard Entertainment released Curse of Naxxramas: A Hearthstone Adventure for Windows, Mac and iPad. On August 19, 2014, Blizzard Entertainment also expects to release Diablo III: Reaper of Souls - Ultimate Evil Edition for Sony’s PlayStation 4 and PlayStation 3 and Microsoft’s Xbox One and Xbox 360.


Q1 2014

Quote From Activision Blizzard

Bobby Kotick, Chief Executive Officer, Activision Blizzard, said, “Our better-than-expected performance was driven by record digital sales in Blizzard Entertainment’s franchises, including World of Warcraft, Diablo, and Hearthstone: Heroes of Warcraft, a new free-to-play game which had already registered more than 10 million users as of its March 11, 2014 launch on Windows and Mac, in addition to Activision Publishing’s Skylanders and Call of Duty franchises. For the first quarter, net revenues from non-GAAP digital channels accounted for more than 68% of our revenues, setting a new quarterly record and driving record non-GAAP Q1 operating margin and record non-GAAP Q1 EPS. Additionally, we are raising our full year outlook and expect to grow our non-GAAP revenues year over year and deliver record non-GAAP earnings per share.”

In addition to plans for new content for Hearthstone: Heroes of Warcraft and the release of Diablo III: Ultimate Evil Edition on console  later this year, Blizzard Entertainment expects to launch World of Warcraft: Warlords of Draenor, which is already one of the fastest selling expansions in the franchise’s history based on pre-sales, in the second half of 2014.”

On March 11, 2014, Blizzard Entertainment announced the launch of Hearthstone: Heroes of Warcraft, a new cross-platform free-to-play digital card game for Windows and Mac.

On April 2, 2014, Blizzard Entertainment released Hearthstone: Heroes of Warcraft on iPad in Canada, Australia, and New Zealand. Blizzard made the game available through the iPad App Store for the rest of the world on April 16, 2014.


Q4 2014

Quote From Activision Blizzard

Also in our pipeline for 2014 and the next few years are at least three potentially groundbreaking new free-to-play franchises—Blizzard’s Hearthstone: Heroes of Warcraft and Heroes of the Storm, and Activision Publishing’s Call of Duty Online.

Free-to-play as a business model has now achieved scale, both in the West and in China. Hearthstone, which released in open beta on PC last month and which Blizzard Entertainment plans to expand this year to tablets and smartphones, is already attracting millions of players with strong engagement and monetization in the West and China, putting it on track to join World of Warcraft, Diablo, and StarCraft as their fourth mega franchise.”


Q3 2014

Quote From Activision Blizzard

We are also in the process of a beta launch for our first major free-to-play game, Hearthstone: Heroes of Warcraft.


Q2 2014

There were no mentions of Hearthstone in the quarterly earnings.


Q1 2014

Quote From Activision Blizzard

On March 22, 2013, Blizzard Entertainment announced Hearthstone: Heroes of Warcraft, a new cross-platform free-to-play game for Windows, Macintosh, and iPad.


And More?

Nope! Hearthstone wasn't announced prior to 2014 and as such, has no references in Activision Earnings prior to this date.