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:
Like other leading store operators, Costco Wholesale Corporation (NASDAQ: COST) went into overdrive when people stockpiled on essential items after coronavirus threw normal life out of gear in early 2020.
Nike Inc. (NYSE: NKE) reported first quarter 2022 earnings results today. Total revenue increased 16% year-over-year to $12.2 billion. Net income rose 23% to $1.9 billion while EPS grew 22%
Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2021. The results also topped expectations. Fourth-quarter net sales grew 17.5% annually to