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Q1 Earnings After the Bell Thursday: ATVI, SHAK, ZNGA
Gaming console video game maker Activision beat estimates on both the top and bottom line after the bell Thursday. The Zacks Rank #2 (Buy) stock posted 27 cents per share, beating our consensus by 11 cents, on $1.2 billion in revenues. Analysts had been looking for $1,1 billion. For more, click here.
Shake Shack (SHAK - Free Report) reported Q1 earnings and revenues that also topped estimates after today's regular trading close. The hamburger boutique brought in 10 cents per share, a 2-cent beat, on $76.7 million in sales for the quartert, above the projected $75.4 million. However, full-year sales growth for 2017 is currently estimated to be flat year over year, partially accounting for the late-trading selloff. For more, click here.
Social media game developer Zynga also released Q1 earnings after the bell, reporting -$0.01 per share (matching the Zacks consensus) on sales of $194 million, which missed expectations, albeit slightly. However, shares are up in late trading due to a 14% increase in bookings for the quarter and upwardly revised bookings estimates for Q2. For more, click here.