Activision Blizzard Moves Higher on Raised Guidance

reports Q2 EPS of $0.06 versus the estimated $0.02, beating by $0.04. EPS were Down 25% from the same quarter last year. Revenue came in at $658.0M versus the estimated $607.57M. Sales were Up 8% year over year. However, Activision Blizzard is up by 3.31 percent in after-hours trading driven by better outlook, which is broken down below.

Source: Activision Blizzard Non-GAAP revenue outlook increased from $4.675 billion to $4.7billion. The Non-GAAP EPS outlook increased from $1.27 to $1.29. Bobby Kotick, CEO of Activision Blizzard, raises 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.”