Activision Blizzard, Inc. just released its first-quarter financial results, posting adjusted earnings of 31 cents per share and revenues of $1.2 billion.
Currently, ATVI is a Zacks Rank #2 (Buy), but this ranking could change based on today’s results. The stock is remained flat in after-hours trading shortly after its earnings report was released.
Activision Blizzard:
Beat earnings estimates. The company posted adjusted earnings of $0.31, beating Street estimates of $0.22. GAAP earnings came in at 72 cents per share.
Beat revenue estimates. The company saw adjusted revenue figures of $1.196 billion, beating our consensus estimate of $1.103 billion. On a GAAP basis, net revenues came in at $1.726 billion, surpassing the company’s prior outlook of $1.550 billion.
Overall, Activision Blizzard had 431 million monthly active users (MAUs) in the quarter. Blizzard had the biggest Q1 online player community in its history with 41 million MAUs—a 58% year-over-year increase.
It should be noted that Activision and a host of other video game companies have changed the way they report their non-GAAP fiscal results to meet stricter guidelines imposed by the SEC. Activision Blizzard's net revenues presented in accordance with GAAP were up 19% to a Q1 record of $1.73 billion. The company’s GAAP net revenues from digital channels were up 50% to $1.39 billion.
Activision Blizzard now expects adjusted Q2 net revenues of $1.2 billion and earnings per share of $0.27.
“This quarter we delivered record revenues, earnings per share and cash flow, and over-performed guidance,” said CEO Bobby Kotick. “Among the drivers of our results was Overwatch®, which now has over 30 million players globally. The Overwatch League™ is gaining momentum and we're excited to offer our community of players the best professional league experience. Destiny 2 and Call of Duty®: WWII are also coming later this year, and both reveals have been very well received by fans."
Here’s a graph that looks at Activision’s latest earnings performance:
Activision Blizzard is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry. Activision Blizzard's portfolio includes best-selling video games such as Guitar Hero, Call of Duty, and Tony Hawk, as well as Spider-Man, X-Men, Shrek, James Bond and TRANSFORMERS, leading franchises such as Crash Bandicoot and Spyro and Blizzard Entertainment's StarCraft, Diablo, and Warcraft franchises including the global number one subscription-based massively multi-player online role-playing game, World of Warcraft
Check back later for our full analysis on ATVI’s latest earnings report!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >>
Image: Bigstock
Activision Blizzard (ATVI) Posts Q1 Earnings Beat, Digital Revenue Up 50%
Activision Blizzard, Inc. just released its first-quarter financial results, posting adjusted earnings of 31 cents per share and revenues of $1.2 billion.
Currently, ATVI is a Zacks Rank #2 (Buy), but this ranking could change based on today’s results. The stock is remained flat in after-hours trading shortly after its earnings report was released.
Activision Blizzard:
Beat earnings estimates. The company posted adjusted earnings of $0.31, beating Street estimates of $0.22. GAAP earnings came in at 72 cents per share.
Beat revenue estimates. The company saw adjusted revenue figures of $1.196 billion, beating our consensus estimate of $1.103 billion. On a GAAP basis, net revenues came in at $1.726 billion, surpassing the company’s prior outlook of $1.550 billion.
Overall, Activision Blizzard had 431 million monthly active users (MAUs) in the quarter. Blizzard had the biggest Q1 online player community in its history with 41 million MAUs—a 58% year-over-year increase.
It should be noted that Activision and a host of other video game companies have changed the way they report their non-GAAP fiscal results to meet stricter guidelines imposed by the SEC. Activision Blizzard's net revenues presented in accordance with GAAP were up 19% to a Q1 record of $1.73 billion. The company’s GAAP net revenues from digital channels were up 50% to $1.39 billion.
Activision Blizzard now expects adjusted Q2 net revenues of $1.2 billion and earnings per share of $0.27.
“This quarter we delivered record revenues, earnings per share and cash flow, and over-performed guidance,” said CEO Bobby Kotick. “Among the drivers of our results was Overwatch®, which now has over 30 million players globally. The Overwatch League™ is gaining momentum and we're excited to offer our community of players the best professional league experience. Destiny 2 and Call of Duty®: WWII are also coming later this year, and both reveals have been very well received by fans."
Here’s a graph that looks at Activision’s latest earnings performance:
Activision Blizzard, Inc Price, Consensus and EPS Surprise
Activision Blizzard, Inc Price, Consensus and EPS Surprise | Activision Blizzard, Inc Quote
Activision Blizzard is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry. Activision Blizzard's portfolio includes best-selling video games such as Guitar Hero, Call of Duty, and Tony Hawk, as well as Spider-Man, X-Men, Shrek, James Bond and TRANSFORMERS, leading franchises such as Crash Bandicoot and Spyro and Blizzard Entertainment's StarCraft, Diablo, and Warcraft franchises including the global number one subscription-based massively multi-player online role-playing game, World of Warcraft
Check back later for our full analysis on ATVI’s latest earnings report!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >>