Activision Blizzard (ATVI) Releases Earnings Results, Beats Expectations By $0.11 EPS

Activision Blizzard (ATVI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.12. The company posted revenue of $908.00 million in the period, compared to analysts expectations of $813.79 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Reiterated by MKM Partners on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $34 .Company shares were Reiterated by Stifel on Apr 13, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Activision Blizzard was Initiated by BofA/Merrill to “Neutral” on Mar 1, 2016.

Activision Blizzard opened for trading at $33.82 and hit $34.34 on the upside on Wednesday, eventually ending the session at $34.28, with a gain of 0.50% or 0.17 points. The heightened volatility saw the trading volume jump to 57,69,819 shares. Company has a market cap of $25,196 M.

In a different news, on Mar 17, 2016, Eric Hirshberg (CEO, Activision Publishing) sold 119,148 shares at $32.44 per share price. According to the SEC, on Mar 8, 2016, Robert J Corti (director) sold 62,000 shares at $31.25 per share price. On Nov 9, 2015, Brian Hodous (Chief Customer Officer) sold 15,996 shares at $37.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Activision Blizzard Inc. is a developer and publisher of online personal computer (PC) video game console handheld mobile and tablet games. The Company offers games that operate on the Microsoft Corporation (Microsoft) Xbox One (Xbox One) and Xbox 360 (Xbox 360) Nintendo Co. Ltd. (Nintendo) Wii U (Wii U) and Wii (Wii) and Sony Computer Entertainment Inc. (Sony) PlayStation 4 (PS4) and PlayStation 3 (PS3) console systems. The Company also develops products spanning other genres including first-person action action/adventure role-playing simulation and strategy. It distributes interactive entertainment hardware and software products in Europe through its European distribution subsidiaries: Centresoft in the United Kingdom and NBG in Germany. The Company’s operating segments include Activision Publishing Inc. and its subsidiaries Blizzard Entertainment Inc. and its subsidiaries and Activision Blizzard Distribution.

Activision Blizzard

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