Shares of Activision Blizzard Inc. (NASDAQ: ATVI) gained Tuesday evening, soon after the video game developer reported stronger-than-expected second-quarter earnings. Revenues also increased year-over-year and came in above the estimates.
Activision had around 408 million monthly active users at the end of the quarter when net bookings dropped 8% to $1.92 billion. Revenues rose 19% % to $2.3 billion and topped expectations.
Second-quarter earnings, excluding one-off items, climbed to $1.20 per share from $0.81 per share last year and exceeded the number analysts had projected. Net income, on an unadjusted basis, rose to $876 million or $1.12 per share from $580 million or $0.75 per share in the second quarter of 2020.
Activision’s stock dropped about 3% in the past twelve months. It made modest gains Tuesday evening, immediately following the earnings announcement, after closing the regular session lower.
Stocks you may like:
Software giant Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported higher revenues and earnings for the second quarter of 2022. The results also topped expectations. At $51.7 billion, second-quarter revenues were
When online platforms thrived on the unusually strong traffic growth during the shutdown, as home-bound people turned to video-streaming and gaming sites, there was speculation that the trend might reverse
Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ: