LONDON, UK / ACCESSWIRE / December 13, 2017 / Active-Investors free earnings report on Activision Blizzard, Inc. (NASDAQ: ATVI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=ATVI. The Company reported its third quarter fiscal 2017 operating results on November 02, 2017. The video game maker outperformed top- and bottom-line expectations, and also raised its guidance for the full year. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Activision Blizzard most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
For the quarter ended September 30, 2017, Activision Blizzard's GAAP net revenues were a Q3 record of $1.62 billion compared to $1.57 billion for Q3 2016, reflecting a growth of 3.2%. The Company's revenue numbers, including deferrals, totaled $1.9 billion; exceeding analysts' expectations of $1.7 billion.
For Q3 2017, Activision Blizzard's GAAP net revenues from digital channels were also a Q3 record of $1.35 billion versus $1.34 billion in Q3 2016. The Company's revenue from the retail channel grew 7% to $168 million on a y-o-y basis.
Activision Blizzard delivered a Q3 record of over $1 billion of in‐game revenues. The Company achieved record Q3 segment revenues and operating income, capping a record year‐to‐date performance.
During Q3 2017, Activision Blizzard's GAAP operating margin was 16%, while non‐GAAP operating margin was 30%.
For the quarter ended September 30, 2017, Activision Blizzard's GAAP earnings per diluted share were $0.25 compared to $0.26 for Q3 2016. On a non‐GAAP basis, the Company's earnings per diluted share were $0.47 compared to $0.49 for the year-earlier same quarter. Activision Blizzard's earnings beat Wall Street's estimates of $0.47 per share.
Audience Reach
During Q3 2017, Activision Blizzard reported Monthly Active Users (MAUs) of 384 million. The Company's Activision division had the biggest third‐quarter online player community in its history, with a record 49 million MAUs, while the Blizzard division also had the biggest third quarter online player community in its history, with a record 42 million MAUs. This is the fourth quarter in a row that Blizzard drove quarterly record MAUs.
Activision Blizzard's Overwatch community grew to over 35 million registered players. The Company's King division had 293 million MAUs for the reported quarter and has had two of the top‐10 highest‐grossing titles in the US mobile app stores for sixteen quarters in a row. The Company's Candy Crush Saga™, which is celebrating its 5th anniversary, returned to the #1 grossing position in US mobile app stores for Q3 2017.
Deep Engagement
During Q3 2017, the Company achieved a new milestone with players spending over 50 minutes per day in Activision Blizzard games, in-line with some of the most engaging online connected platforms in the world.
King's paying players grew for the first time since Q1 2016, while gross bookings per paying user also grew for the ninth quarter in a row to a new record. The Candy Crush franchise's gross bookings grew to their highest level since 2013. King also achieved record quarterly mobile gross bookings in the reported quarter, driving the third sequential quarter of segment revenues growth.
Cash Matters
As of September 30, 2017, Activision Blizzard had cash and cash equivalents of $3.58 billion compared to $3.25 billion as of December 31, 2016. For the reported quarter, the Company's operating cash flows were $379 million compared to $265 million for the previous quarter.
Outlook
Activision Blizzard raised its full-year 2017 GAAP outlook to revenues of $6.675 billion, with net deferrals of $175 million, and GAAP EPS of $1.22. The Company also increased its non-GAAP forecasts to EPS of $2.08, with net deferrals of $0.08 per share.
For Q4 2017, Activision Blizzard is projecting net revenues of $1.70 billion, with net deferrals of $635 million. The Company is estimating GAAP EPS of $0.10, and non-GAAP EPS of $0.36, with net deferrals of $0.46 per share.
Stock Performance Snapshot
December 12, 2017 - At Tuesday's closing bell, Activision Blizzard's stock rose 1.95%, ending the trading session at $64.40.
Volume traded for the day: 6.46 million shares, which was above the 3-month average volume of 6.18 million shares.
Stock performance in the last month – up 2.22%; previous six-month period – up 10.18%; past twelve-month period – up 73.26%; and year-to-date – up 78.34%
After yesterday's close, Activision Blizzard's market cap was at $48.04 billion.
Price to Earnings (P/E) ratio was at 44.20.
The stock has a dividend yield of 0.47%.
The stock is part of the Technology sector, categorized under the Multimedia & Graphics Software industry.
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