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ATVI Alert: 15 Reasons Why Popular Reddit Stock Activision Blizzard Is Trending Today

Editor’s Note: This article has been updated with accurate financial information from Activision Blizzard’s earnings report.

Activision Blizzard (NASDAQ:ATVI) stock is on the rise Wednesday as Reddit investors are celebrating the company’s most recent earnings report.

the Activision (ATVI) logo on a wall

Source: Eric Broder Van Dyke/Shutterstock.com

We’re diving into the company’s earnings report for the first quarter of 2021 in the list below.

  • Starting off, the company reported non-GAAP EPS of 84 cents when accounting for deferrals of -14 cents.
  • That’s worth pointing out as it beat out Wall Street’s estimate of 71 cents for the quarter.
  • It’s also a healthy increase over the company’s non-GAAP EPS of 76 when accounting for deferrals of -18 cents from the same time last year.
  • Activision Blizzard also reported net bookings, its revenue equivalent, of $2.07 billion during the quarter.
  • That has its net bookings coming in above analysts’ estimates of $1.79 billion.
  • It’s also up 36% year-over-year.
  • The major gains this quarter were driven by the success of the Call of Duty franchise.
  • That includes Call of Duty: Black Ops Cold War and Warzone, as well as Call of Duty Mobile.
  • These pushed the Activision segment revenue up 72%.
  • When it comes to the Blizzard segment revenue was up 7%.
  • That was due to the continued positive performance of the Warcraft franchise.
  • World of Warcraft’s Shadowlands expansion, as well as increasing sales from World of Warcraft Classic.
  • King segment revenue was up 22%.
  • This handles most of the company’s mobile titles.
  • That includes Candy Crush, Farm Heroes, as well as Crash Bandicoot: On The Run!
  • Outlooks include EPS of 80 cents on revenue of $2.14 billion for Q2.
  • Wall Street’s Q2 estimates include EPS of 75 cents on revenue of $1.84 billion.

ATVI stock is trading heavily on today’s earnings news. As of this writing, more than 7 million shares have changed hands. That’s above its daily average trading volume of 5.9 million shares.

ATVI stock was up 3.1% as of Wednesday morning.

Activision Blizzard isn’t the only company to keep an eye on during earnings seasons.

There are plenty of others that investors should look out for. That includes Clover Health Investments (NASDAQ:CLOV), Skillz (NYSE:SKLZ), Caterpillar (NYSE:CAT), and quite a few others. Investors can get up-to-date on these companies below.

More Earnings News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/05/atvi-alert-15-reasons-why-popular-reddit-stock-activision-blizzard-is-trending-today/.

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