How Has Activision Blizzard Performed since Its 4Q17 Results?
ATVI stock has risen ~17%
Activision Blizzard (ATVI) stock has risen almost 16% since the firm announced its 4Q17 results on February 8, 2018. Activision Blizzard reported revenues of $2.04 billion in 4Q17 (ended December 2017), with a non-GAAP (generally accepted accounting principles) operating margin of $511 million and EPS (earnings per share) of $0.49.
ATVI’s net revenues in 4Q16 came in at $2.01 billion, with operating income of $618 million and EPS of $0.65. Its operating margin fell from 34% in 4Q16 to 25% in 4Q17, while digital revenues accounted for 70% of total revenues in 4Q17, compared with 72% in 4Q16. In fiscal 2017, ATVI reported revenue of $7.01 billion—a rise of 6.2% YoY (year-over-year)—with EPS rising 1.4% to $2.21.
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Record revenues for Activision in 4Q17 and 2017
In 2017, Activision reported record revenues. ATVI CEO Bobby Kotick stated: “This was a record quarter to cap off a record year for Activision Blizzard. In 2017, our community reached new milestones for engagement, our business delivered record revenues and cash flows, and we made important progress in building future growth opportunities such as the Overwatch League…We couldnʹt be more excited for the opportunities ahead in 2018 to continue serving our players and fans.”
Activision is one of the leaders in the gaming space with a market cap of $58 billion. Peer gaming companies include Electronic Arts (EA), Take-Two Interactive (TTWO), Zynga (ZNGA), and NetEase (NTES), which have market caps of $39 billion, $13 billion, $3.3 billion, and $41.5 billion, respectively.