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ACTIVISION BLIZZARD, INC.

(ATVI)
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Activision Blizzard Gives Weaker-Than-Expected FY21 Financial Outlook

05/04/2021 | 04:20pm EDT

By Kimberly Chin

Activision Blizzard Inc. provided a weaker-than-expected full-year forecast but its second-quarter outlook beat analysts' expectations as the company increases its investment in some of its most popular video game franchises to keep users engaged and connected.

The videogame company expects revenue around $8.37 billion this year. Analysts polled by FactSet were projecting $8.53 billion

Activision projects full-year earnings of $2.91 a share, or $3.42 a share as adjusted. Analysts were predicting $3.16 a share and $3.67 a share as adjusted.

For the current quarter, Activision expects revenue around $2.14 billion, ahead of analysts' consensus forecast of around $1.81 billion.

It also expects second-quarter earnings to be around 81 cents a share and adjusted earnings around 91 cents a share. Analysts were looking for 72 cents a share and 75 cents a share on an adjusted basis.

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 72 395 M 72 395 M -
EV / Sales 2021 7,43x
EV / Sales 2022 6,29x
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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