Activision Blizzard (ATVI) Misses Q4 EPS by 8c, Raises Divvy To $0.30, Announces 2-Yr $1B Buyback
Activision Blizzard (NASDAQ: ATVI) reported Q4 EPS of $0.65, $0.08 worse than the analyst estimate of $0.73. Revenue for the quarter came in at $2.01 billion versus the consensus estimate of $2.35 billion.
Activision Blizzard sees Q1 2017 EPS of $0.51. Activision Blizzard sees Q1 2017 revenue of $1.55 billion.
The company also announced that its Board of Directors authorized a new 2-year stock repurchase program under which the company is authorized to repurchase up to $1 billion of its outstanding common stock during the period from February 13, 2017 through February 12, 2019.
The Board of Directors also approved a repayment of up to $500 million of the company’s outstanding debt during 2017, of which $139 million has already been repaid during the first quarter.
The Board of Directors also declared a cash dividend of $0.30 per common share, payable on May 10, 2017 to shareholders of record at the close of business on March 30, 2017, which represents a 15% increase from 2016.
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