Activision Blizzard, Inc. (ATVI) Tops Q3 EPS by 5c; Provides Mixed Outlook

November 6, 2013 4:15 PM
Activision Blizzard, Inc. (NASDAQ: ATVI) reported Q3 EPS of $0.08, $0.05 better than the analyst estimate of $0.03. Revenue for the quarter came in at $657 million versus the consensus estimate of $589.43 million.

Activision Blizzard, Inc. sees Q4 2013 EPS of $0.72, versus prior guidance of $0.76-$0.79 and the consensus of $0.79. Activision Blizzard, Inc. sees Q4 2013 revenue of $2.215 billion, versus prior guidance of $2.252 billion and the consensus of $2.29 billion.

Activision Blizzard, Inc. sees FY2013 EPS of $0.89, versus prior guidance of $0.85-$0.87 and the consensus of $0.89. Activision Blizzard, Inc. sees FY2013 revenue of $4.285 billion, versus prior guidance of $4.25 billion and the consensus of $4.29 billion.

Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “Our third-quarter results exceeded our expectations, and we are able to raise our outlook for 2013 net revenues and earnings per share. Robust continued engagement with our core franchises drove digital revenue, which constituted a majority of all revenue. This quarter demonstrates that games like Call of Duty and World of Warcraft engage and entertain our fans year round.”

Kotick added, “We recently released new titles in two of the most popular franchises in entertainment, Call of Duty: Ghosts and Skylanders SWAP Force. We are thrilled by the quality of those games and we are excited to show what we can do with them on next-generation consoles in the coming weeks. We are also in the process of a beta launch for our first major free-to-play game, Hearthstone: Heroes of Warcraft. However, we continue to believe that the fourth quarter this year presents a unique and challenging landscape due to increased competition and uncertainties surrounding the console transition. We are confident in our ability to navigate these challenges successfully, particularly in light of the recent completion of our transaction with Vivendi and the focus and flexibility provided by our return to independence.”

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