Activision Blizzard Earnings: ATVI Stock Gets 3% Boost Following Q4 Beat

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Activision Blizzard (NASDAQ:ATVI) earnings for the video game company’s fourth quarter of 2019 have ATVI stock up after-hours Thursday. That’s thanks to its adjusted per-share earnings of $1.23 on revenue of $2.71 billion. These both beat out Wall Street’s estimates of $1.19 per share and revenue of $2.67 billion.

Activision Blizzard Earnings: ATVI Stock Gets 3% Boost Following Q4 Beat

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Here are some additional highlights from the most recent Activision Blizzard earnings report.

  • Adjusted earnings per share are down 4.65% from $1.29 during the same time last year.
  • Revenue for the quarter comes in 4.58% lower than the $2.84 billion in the fourth quarter of 2018.
  • Operating income of $454 million is a 34.58% drop from YoY from $694 million.
  • The Activision Blizzard earnings report also includes a net income of $525 million.
  • That’s a 23.36% drop compared to the company’s net income of $685 million.

Bobby Kotick, Chief Executive Officer of Activision Blizzard, says this about the Q4 ATVI stock earnings.

“Our fourth quarter results exceeded our prior outlook for both revenue and earnings per share. Our recent Call of Duty® success illustrates the scale of our growth potential, as we expanded the community to more players in more countries on more platforms than ever before.”

The Activision Blizzard earnings report also includes its 2020 outlook. It is expecting adjusted EPS of $2.35 on revenue of $6.725 billion. Wall Street’s estimates are for EPS of $2.49 on revenue of $6.92 billion for the year.

ATVI stock is up 2.57% after-hours Thursday. It also closed out the day up 2.40%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/02/activision-blizzard-boosts-atvi-stock-higher/.

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