Activision Blizzard, Inc. (((ATVI)- Get the report Boosted by in-game sales in the latest Call of Duty franchise, after the bell on Tuesday, it raised its outlook and reported better-than-expected first-quarter earnings and earnings.
The company reported revenue of $ 2.07 billion and earnings per share of 98 cents.
In the same period a year ago, the company generated $ 1.5 billion in revenue and revenue of 58 cents per share.
Activision was expected to generate $ 1.8 billion in revenue and 70 cents per share, based on a FactSet survey of 28 analysts.
“Our employees continue to perform exceptionally well in difficult situations,” said Bobby Kotick, CEO of Activision Blizzard, in a statement. “Its relentless impetus across the franchise has produced far more powerful first-quarter results than expected. Continued overperformance can raise our full-year outlook,” said Cotic. I added.
Activision currently forecasts non-GAAP earnings of $ 8.37 billion and non-GAAP earnings per share of $ 3.42.
The company forecasts second-quarter sales of $ 2.135 billion and non-GAAP earnings per share of 91 cents.
According to the company, Activision segment revenue is backed by strong premium sales and Call of Duty Mobile, in addition to in-game revenue from Call of Duty: Black Ops Cold War and Warzone games. , Increased by 72% year-on-year. “Platform. King segment sales were up 22% year-on-year, driven by the strong growth of” Candy Crush “.
Activision’s share price rose $ 4.01 (4.5%) to $ 92.70 in after-hours trading on Tuesday. In a regular session, the stock price fell $ 2.46, or 2.7%.
TheStreet.com Jim Cramer recently commented on Activision In the Lightning Round segment of his Mad Money program on CNBC.
Activision Blizzard Tops Estimates, Hikes Outlook on Call of Duty Source link Activision Blizzard Tops Estimates, Hikes Outlook on Call of Duty