We had two big video game companies report earnings after the bell Thursday night--Activision Blizzard
and Take-Two Interactive
Activision Blizzard Earnings
Activision Blizzard reported earnings after the bell Thursday night.
The Santa Monica-based company reported adjusted earnings of 38 cents per share on revenue of $1.21 billion. Analysts were expecting the company to report earnings of 23 cents per share on revenue of $1.16 billion. However, the stock is falling after the company said that it expects net revenue of $2.65 billion. Analysts are expecting the company to report revenue of $2.75 billion in the holiday quarter.
"Our third-quarter results exceeded our prior outlook for both revenue and earnings per share," said CEO Bobby Kotick. "Recent launches have enabled significant growth in the size of our audiences for our Call of Duty and World of Warcraft franchises."
Take-Two Interactive Earnings
Take-Two also reported earnings after the bell Thursday.
The video-game maker offered revenue guidance for the holiday season below analyst estimates, reported TheStreet's Tom Bemis.
Take-Two said it earned $1.93 a share on sales of $950.5 million in its fiscal second quarter. Analysts surveyed by FactSet had expected it to make $1.70 a share on sales of $926.1 million.
Take-Two projected sales of $860 million to $910 million for its fiscal third quarter. Analysts surveyed by FactSet had been expecting the company to take in $925.2 million.
And Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS portfolio, said that right now, video game