Activision Blizzard Up 8% On Raised Guidance
Activision Blizzard (NASDAQ: ATVI) reported Q2 EPS of $0.06 vs. the estimated $0.02, though this is down 25 percent from the same quarter last year.
Revenue came in at $658 million vs. the estimated $607.57 million. Sales were up eight percent year over year.
Activision Blizzard is up more than eight percent after-hours driven by better outlook, which is broken down below.
Source: Activision Blizzard
Non-GAAP revenue outlook increased from $4.675 billion to $4.7 billion. The Non-GAAP EPS outlook increased from $1.27 to $1.29.
Bobby Kotick, CEO of Activision Blizzard, raised his outlook due to increased expectations from key gaming franchises along with new game franchises:
“Our better-than expected performance was driven by continued strong digital sales from Blizzard Entertainment's World of Warcraft, Diablo III: Reaper of Souls and Blizzard Entertainment's newest franchise, Hearthstone: Heroes of Warcraft, which recently launched on the iPad and continues to be well received by audiences around the world, as well as digital sales from Activision Publishing's Call of Duty. Based on our results, we are raising our full-year outlook and we expect to grow our non-GAAP revenues year-over-year and deliver record non-GAAP earnings per share for the full year.”
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