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Activision Jumps After Q4 Results

Activision Jumps After Q4 Results
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Activision (NASDAQ: ATVI) is up more than seven percent in after hours trading after the company announced its fourth quarter results.

The Call of Duty publisher reported a Q4 EPS of $0.79 versus the Street estimate of $0.73.

Earnings per share were up one percent from the year-ago period.

Revenue arrived at $1.52 billion versus the Street estimate of $2.22 billion. Sales were down 42 percent year-over-year.

"2013 was a transformational year for Activision Blizzard and for our industry," Bobby Kotick, CEO of Activision, said in a company release.

"Our transaction with Vivendi returned us to independence and eliminated the challenges and constraints of being a controlled company. The continued success of our games delivered better-than-expected financial results, including stronger net revenues and earnings per share, and over $1.26 billion in operating cash flow.”

Activision's Q1 EPS guidance of $0.09 is somewhat lower than the Street estimate of $0.11. Likewise, Activision expects to report sales at around $675 million versus the Street estimate of $679 million.

On the other hand, Activision's FY2012 EPS of $1.26 is exactly inline with Wall Street, as is the company's sales estimate of $4.6 billion.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.

Posted-In: Activision Bobby Kotick Call of DutyEarnings News Tech

 

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