Activision Blizzard Needs to Level Up After Q2

When Activision Blizzard Inc. (NASDAQ: ATVI) reported its most recent quarterly results after the markets closed on Thursday, the video game firm said that it had $0.53 in earnings per share (EPS) and $1.40 billion in revenue. The consensus estimates had called for $0.26 in EPS and $1.19 billion in revenue, and in the same period of last year Activision said it had $0.62 in EPS and $1.64 billion in revenue.

During the latest quarter, Activision Blizzard had 327 million monthly active users and King had 258 million.

Activision delivered approximately $800 million of in-game net bookings in the second quarter. At the same time, King’s Candy Crush was the top-grossing franchise in the U.S. mobile app stores, a lead position it has held for the past two years.

Looking ahead to the fiscal third quarter, the company expects to see EPS of $0.20 and revenues of $1.105. Consensus estimate call for $0.40 in EPS and $1.36 billion in revenue for the quarter.

Bobby Kotick, CEO of Activision Blizzard, commented:

Our second quarter results exceeded our prior outlook for both revenue and earnings per share. In the first half of 2019 we have prioritized investments in our key franchises and, beginning in the second half of this year our audiences will have a chance to see and experience the initial results of these efforts.

Shares of Activision Blizzard traded down more than 3% at $47.63 early Friday. The 52-week range is $39.85 to $84.68, and the consensus price target is $52.76.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.