Activision Blizzard has just released their Q1 2021 earnings results, and things are looking good for shareholders. The company posted Non-GAAP adjusted earnings-per-share (EPS) of 98 cents, beating their own forecast of 84 cents, and Wall Street analyst expectations of 76 cents. Activision also announced that they are increasing their full year financial outlook. Shares of the company are trading higher afterhours on the news.
Activision Blizzard (ATVI) stock is up afterhours on a solid Q1 2021 earnings release.
Here's some interesting information from the Activision Blizzard Q1 2021 earnings release.
Q1 2021 revenues came in at $2.28 billion
Digital channel revenues were $2.01 billion during Q1 2021
Operating margins were 43% on a non-GAAP basis in Q1 2021
Operating cash flow was $844 million in Q1 2021, compare to $148 million in Q1 2020
Activision revenue segment was up 72% year-over-year, powered by COD strength
Blizzard revenue segment grew 7% year-over-year, driven by Warcraft Classic and Shadowlands expansion
King segment revenue hit a new record
King had 258 million monthly active users during the quarter
Crash Bandicoot: On The Run! has been downloaded over 30 million times since launching in late March
The Board of Directors declared a cash divdend of 47 cents per common share
Payable on May 6, 2021 to shareholders of record at the close on April 15, 2021
Dividend payout has been increased by 15% from the prior year
Company now expects $8.37 billion in revenue for the year 2021
Non-GAAP EPS guidance increased to $3.42/share
Activision Blizzard (ATVI) shares are up almost 5% off the intraday trading lows. Shareholders are being rewarded today, and it seems like things are on track for another solidly profitable year for the COD factory. The conference call is getting started right now, and we are streaming it on the Shacknews Twitch channel, if you are into that sort of thing.
Bobby Kotick seen here with his money hat.
Are you long Activision Blizzard stock? Do you think CEO Bobby Kotick was good in Moneyball? Are you tired of COD games? Let us know in the comments section.