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ACTIVISION BLIZZARD, INC.

(ATVI)
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Activision Blizzard 1Q Profit Lifted By Higher Sales

05/04/2021 | 04:20pm EDT

By Kimberly Chin

Activision Blizzard Inc. reported a higher profit in the first quarter, driven by strong revenue growth as people continued to find entertainment in its games during the coronavirus pandemic.

The videogame company recorded earnings of $619 million, up from $505 million in the same period a year earlier. Per-share profit was 79 cents, up from 65 cents a year ago. Adjusted earnings were 98 cents a share, ahead of analysts' consensus estimates of 70 cents a share, per a FactSet poll.

Net revenue increased 27% to $2.28 billion from the year-earlier quarter, topping analysts' projections of $1.78 billion. Revenue from digital channels was $2.01 billion.

Net bookings, a key metric that looks at the amount of products and services sold digitally or sold-in physically in the period, rose 36% to $2.07 billion compared with last year's first quarter.

The company said it had 435 million monthly active users in the March quarter, up from 397 million in the December quarter and higher than the 407 million in the comparable quarter last year.

Activision's popular video game franchises include Call of Duty, World of Warcraft and Candy Crush.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

05-04-21 1619ET

Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD, INC. -1.72% 93.17 Delayed Quote.0.34%
DJ INDUSTRIAL -0.10% 34742.82 Delayed Quote.13.63%
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Financials (USD)
Sales 2021 8 703 M - -
Net income 2021 2 413 M - -
Net cash 2021 7 722 M - -
P/E ratio 2021 30,4x
Yield 2021 0,48%
Capitalization 73 661 M 73 661 M -
EV / Sales 2021 7,58x
EV / Sales 2022 6,42x
Nbr of Employees 9 500
Free-Float 63,3%
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Technical analysis trends ACTIVISION BLIZZARD, INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 35
Average target price 114,00 $
Last Close Price 93,17 $
Spread / Highest target 34,2%
Spread / Average Target 22,4%
Spread / Lowest Target -8,77%
EPS Revisions
Managers and Directors
NameTitle
Robert A. Kotick Chief Executive Officer & Director
Daniel I. Alegre President & Chief Operating Officer
Armin Zerza Chief Financial Officer
Brian G. Kelly Chairman
Frances Fragos Townsend Secretary, Chief Compliance Officer & Executive VP
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