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Activision Blizzard, Inc. (ATVI) Revenue Impresses, Raises Guidance

ATVI shares hiked up 1.8% after hours

Activision Blizzard, Inc. (NASDAQ:ATVI) had an impressive quarter that proves it is still a major player in the gaming industry.

Activision Blizzard, Inc. (ATVI)The company has been garnering much of its revenue from mobile gaming, including titles such as Candy Crush, while also improving its console gaming with Call of Duty and others.

Earnings came in at 60 cents per share for Activision Blizzard, topping the Wall Street consensus estimate of 49 cents per share, according to data compiled by Thomson Reuters. Revenue tallied up to $1.90 billion, beating the $1.74 billion that analysts polled by Thomson Reuters projected.

A weak spot in the period was the company’s monthly active users total, which amounted to 384 million, a 6% decrease quarter-to-quarter, as well as a 20% reduction compared to the year-ago quarter.

Activision Blizzard’s King game segment, which is comprised of its mobile gaming, saw its monthly active users total decline by 100 million year-over-year. This segment still managed to bring in $528 million, ahead of the $483 million that StreetAccount predicted.

In its Activision segment, the company amassed $759 million in revenue, better than the $690 million expected by analysts polled by StreetAccount. Its Blizzard business raked in $531 million, topping the $508 million that StreetAccount called for.

“We’re building the League for the long term, and in our view, the opportunity rivals what you see in professional sports from a lot of perspectives but starting with the demographics of the audience,” CEO Robert Kotick said on an earnings conference call in regards to Overwatch and the future of online gaming.

ATVI’s impressive quarter saw shares gain 1.8% after the bell.

Article printed from InvestorPlace Media, https://investorplace.com/2017/11/activision-blizzard-inc-atvi-2/.

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