πŸ‡ΊπŸ‡Έ

The Key Catalyst For Video Game Stock Investors

Credit: The Street
Published on November 8, 2019 - Duration: 01:37s

The Key Catalyst For Video Game Stock Investors

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 video game maker indicated softer current-quarter revenue guidance that overshadowed stronger-than-expected earnings for the three months ending in September, reported TheStreet's Tony Owusu.

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

Advertisement

You are here

Recent related videos from verified sources

Behind the Beat: What Drove Burlington's Strong Earnings and Guidance 01:03
Credit: The Street - Published 1 week ago 

How Investors Should Approach High Quality Stocks 01:42
Credit: The Street - Published 2 weeks ago 

You might like