Record Results for Activision Blizzard Push Share Price Higher

Activision Blizzard (Nasdaq: ATVI) reported earnings after the market closed yesterday (May 3rd), and the game company continues to exceed its own expectations:

  • Record net revenue of $1.97 billion, up from $1.73 billion (14% increase year-over-year)
  • Net income of $500 million, up from $426 million (17% increase YOY)
  • Earnings of $0.66 per share, up from $0.57 per share (15.8% increase YOY)

If you’ll recall from a few weeks ago, the main thing I was watching for in my investment in Activision Blizzard was its subscribers, first for its legacy products from big game franchises like Warcraft and Call of Duty, but also from its users of its mobile games. Though it no longer break out individual game titles, it did highlight some usage numbers from some of its flagship properties. Continue reading