Activision Blizzard’s Q1 Earnings Fall, but Still Beat View (ATVI)

By Staff,

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Video game publisher Activision Blizzard, Inc. ( ATVI ) late Wednesday posted first quarter earnings results that tumbled nearly 24% from last year, but adjusted results still bested Wall Street's expectations.

The Santa Monica, CA-based company reported first quarter net income of $384 million, or 33 cents per share, down from $503 million, or 42 cents per share, in the year-ago period. Excluding one-time gains from deferred sales, adjusted profit was 6 cents per share.

Adjusted revenue plunged 22% from last year to $587 million.

On average, Wall Street analysts expected a smaller profit of 6 cents per share, on lower revenue of $556.4 million.

Activision Blizzard shares closed flat in Wednesday trading.

The Bottom Line
Shares of Activision Blizzard ( ATVI ) have a 1.45% dividend yield, based on today's closing stock price of $12.40. The stock has technical support in the $10.50-$11.00 price area. If the shares can firm up, we see overhead resistance around the $13-$14 price levels.

Activision Blizzard, Inc. ( ATVI ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ATVI

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