The video game publisher reported earnings of 6 cents a share, beating the 4 cents a share estimated by analysts surveyed by Thomson Reuters. Revenue grew 8.2% year-over-year to $658 million for the quarter, above analysts' estimates of $608 million.
Acitivision said that 49% of its revenue in the quarter came from digital delivery channels, up from 37% in the same quarter last year.
The publisher raised its full-year guidance to $1.299 a share in earnings and $4.7 billion in revenue, up from earnings of $1.27 a share and $4.68 billion in revenue.
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TheStreet Ratings team rates ACTIVISION BLIZZARD INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACTIVISION BLIZZARD INC (ATVI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."