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Activision Blizzard Posts Q2 Earnings Beat

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Activision Blizzard Posts Q2 Earnings Beat
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Activision Blizzard, Inc. (NASDAQ: ATVI) hit a new 52-week high before reporting better-than-expected second-quarter earnings after the close on Thursday.

Activision reported Q2 adjusted EPS of 43 cents, beating estimates by 13 cents. Sales came in at $1.63 billion, an increase of 4 percent year over year.

Management announced record first-half total revenue, while increasing CY 2017 revenue and EPS Outlook.

Related Link: Activision Blizzard Reports Q2 Earnings As E-Sports Continue To Grow

CEO Bobby Kotick said, "This was another strong quarter for Activision Blizzard. We exceeded our outlook and delivered record revenues for the first half of 2017."

"Celebrating players and audiences is the foundation for our success. This quarter we announced the first team owners in the Overwatch League™, the first major global, city-based professional esports league. With hundreds of hours of broadcast content ahead of us, as well as significant sponsorship and media opportunities, the Overwatch League will provide new ways for us to highlight and support the passion of esports fans and the skill of some of the world's top Overwatch® players."

Despite the big earnings beat, shares actually fell slightly in after-hours trading.

Posted-In: Activision Blizzard Bobby KotickEarnings News After-Hours Center Movers Best of Benzinga

 

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