Activision Blizzard (ATVI) Posts Q2 Earnings Beat, Q3 Outlook Miss

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Activision Blizzard (NASDAQ:ATVI) reported its latest quarterly earnings results after hours Thursday, which topped analysts’ revenue and earnings expectations but shares fell as its current-quarter outlook was below estimates.

Activision Blizzard (ATVI)The video game maker announced that its net income for its second quarter of fiscal 2018 came in at $402 million, or 52 cents per share. The figure came in ahead of the company’s net income from its year-ago quarter of $243 million, or 32 cents per share.

On an adjusted basis, Activision Blizzard brought in earnings of 41 cents per share, which was stronger than the Wall Street consensus estimate of 35 cents per share, according to data compiled by Thomson Reuters in a survey.

The company added that its adjusted revenue tallied up to $1.39 billion, which marked a 2.1% decline compared to the $1.42 billion it raked in during the second quarter of fiscal 2017. Analysts were projecting Activision Blizzard to bring in revenue of $1.38 billion, according to data compiled by Thomson Reuters.

For its third quarter of the current fiscal year, the company forecasts its adjusted earnings to be 47 cents per share, which is well below the Wall Street guidance of 66 cents per share. The company also sees its adjusted revenue as being $1.62 billion, bellow the $1.87 billion that analysts call for in their outlook.

ATVI stock was down about 1.3% after the bell Thursday as the company’s third-quarter guidance underwhelmed. Shares were up about 1.3% during regular trading hours.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/activision-blizzard-atvi-2/.

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