Activision Blizzard Earnings Cheat Sheet: Beats Forecasts

Activision Blizzard, Inc (NASDAQ:ATVI) reported net income above Wall Street’s expectations for the second quarter. Activision Blizzard, Inc. (Activision Blizzard) is an online, personal computer (NYSE:PC), console and handheld game publisher. It has three segments:Activision Publishing,Blizzard Entertainment, Inc. and its subsidiaries & Activision Blizzard Distribution.

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Activision Blizzard, Inc Earnings Cheat Sheet for the Second Quarter

Results: Net income for Activision Blizzard, Inc rose to $335 million (29 cents per share) vs. $219 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 53% from the year earlier quarter.

Revenue: Revenue rose 19% to $1.15 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: The company beat the mean estimate of 5 cents per share and topped the revenue estimate of $601.9 million.

Quoting Management: Chief Executive Officer Robert Kotick said, “Looking to the balance of the year, while we have numerous releases we believe our audiences will be especially excited by three key properties – Call of Duty: Modern Warfare three, our new online service Call of Duty Elite and Skylanders Spyro’s Adventure – all of which are shaping up to be incredible.”

Competitors to Watch: Electronic Arts Inc. (NASDAQ:ERTS), Microsoft Corporation (NASDAQ:MSFT), Take-Two Interactive Software, Inc. (NASDAQ:TTWO), THQ Inc. (NASDAQ:THQI), Majesco Entertainment Co. (NASDAQ:COOL), KONAMI CORPORATION (NYSE:KNM), Sony Corporation (NYSE:SNE), Silverstar Holdings Ltd. (SSTRF), and Gravity Co., LTD. (NASDAQ:GRVY).

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(Source: Xignite Financials)