Activision Blizzard, Inc. (NASDAQ:ATVI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.69%.
Activision Blizzard, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 60% to $0.08 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Decreased 43.44% to $608 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Activision Blizzard, Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $604.84 million.
Quoting Management: Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “We are pleased with our second-quarter results, which confirm the preliminary results we released last week when we announced our transaction with Vivendi. The agreement we reached with Vivendi will make us an independent company and should deliver meaningful earnings per share accretion to our shareholders. Our solid performance across our franchises and strong digital sales, including continued significant growth this quarter in our Call of Duty® downloadable content business over the previous year, validate our belief that we will enter this new period of independence in a position to leverage the flexibility and focus that it provides.”
Key Stats (on next page)…
Revenue decreased 54.08% from $1.32 billion in the previous quarter. EPS decreased 52.94% from $0.17 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.04 to a profit $0.03. For the current year, the average estimate is a profit of $0.85, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)