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Activision Blizzard Announces Better-Than-Expected First Quarter 2014 Financial Results

Stocks in this article: ATVI

Activision Blizzard, Inc. (Nasdaq: ATVI) today announced better-than-expected financial results for the first quarter of 2014.

First Quarter

(in millions, except EPS)

2014

 

Prior

Outlook*

 

2013

GAAP Net Revenues

$ 1,111   $ 885   $ 1,324
EPS $ 0.40   $ 0.15   $ 0.40

Non-GAAP Net Revenues

$ 772 $ 675 $ 804
EPS $ 0.19   $ 0.09   $ 0.17

*Prior Outlook was provided by the company on February 6, 2014 in its earnings release

For the quarter ended March 31, 2014, Activision Blizzard’s GAAP net revenues were $1.11 billion, as compared with $1.32 billion for the first quarter of 2013. On a non-GAAP basis, the company’s net revenues were $772 million, as compared with $804 million for the first quarter of 2013. For the first quarter, GAAP net revenues from digital channels represented 34% of the company’s total revenues. On a non-GAAP basis, net revenues from digital channels were a record 68%.

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