Activision Blizzard (ATVI) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.42. The company posted revenue of $1609.00 million in the period, compared to analysts expectations of $1447.97 million. The company’s revenue was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Downgraded by MKM Partners on Jul 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .Company shares were Reiterated by Barclays on Jun 16, 2016 to “Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .
Activision Blizzard closed down -0.32 points or -0.80% at $39.75 with 66,77,419 shares getting traded on Tusday. Post opening the session at $40.07, the shares hit an intraday low of $39.53 and an intraday high of $40.24 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 15, 2016, Michael Morhaime (Pres. & CEO-Blizzard Ent.) sold 1,150,000 shares at $38.15 per share price. According to the SEC, on May 24, 2016, Stephen G Wereb (Principal Accounting Officer) sold 71,775 shares at $37.56 per share price. On May 18, 2016, Thomas Tippl (Chief Operating Officer) sold 300,000 shares at $39.08 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.