Research Desk Line-up: Gravity Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 21, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Activision Blizzard, Inc. (NASDAQ: ATVI), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ATVI, following the Company's release of its second quarter results for FY17 on August 3, 2017. The Company reported y-o-y increase in revenues of 3.8%, operating income of 46.1%, and earnings per share of 24%, marking a strong second quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Multimedia & Graphics Software industry. Pro-TD has currently selected Gravity Co., Ltd (NASDAQ: GRVY) for due-diligence and potential coverage as the Company announced on August 09, 2017, its unaudited financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Gravity when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ATVI; also brushing on GRVY. With the links below you can directly download the report of your stock of interest free of charge at:
ATVI generated net revenues of $1.63 billion in Q2 FY17 versus $1.57 billion in Q2 FY16, thus registering an increase of 3.8% y-o-y. The Company's operating income in Q2 FY17 touched $339 million compared to $232 million in same quarter of FY16, thus registering an increase of 46.1% y-o-y.
For Q2 FY17, net income for ATVI was $243 million compared to $151 million in the same period of the last fiscal year, increasing by 60.9% y-o-y. ATVI's diluted net earnings per share (EPS) were $0.32 for Q2 FY17 compared to EPS of $0.20 in the prior year's corresponding quarter; marking an increase of 24% y-o-y.
The Company beat Wall Street's estimates for revenues of $1.43 billion, but fell short of the expected EPS of $0.38. ATVI also beat its own prior guidance of revenues of $1.43 billion and EPS of $0.15.
Activision Blizzard's Segment Information
The Digital online channels generated revenues of $1.31 billion in Q2 FY17 (80% of total revenues) compared to $1.14 billion (73% of total revenues) in Q2 FY16; registering an increase of 15% y-o-y.
The Retail channels generated $260 million in revenues (16% of total revenues) in Q2 FY17 compared to $374 million (24% of total revenues) in same quarter of FY16; registering a decrease of 30% y-o-y.
The Other business channels generated $62 million in revenues (4% of total revenues) in the second quarter of the current fiscal year compared to $55 million in Q2 FY16; an increase of 13%.
The platforms, Console segment generated $568 million in revenues in Q2 FY17 (35% of total revenues) compared to $650 million (41% of total revenues) in Q2 FY16; registering a decline in revenues of 13% y-o-y.
The PC segment generated $508 million in revenues (31% of total revenues) in the second quarter of FY17 compared to $411 million (26% of total revenues) in the corresponding quarter of the last fiscal year; an increase of 24% y-o-y.
The Mobile and ancillary segment generated revenues of $493 million (30% of total revenues) for the second quarter of FY17 against $454 million (29% of total revenues) in Q2 FY16; an increase of 9% y-o-y.
The Other segment generated $62 million in revenues (4% of total revenues) in Q2 FY17 compared to $55 million (4% of total revenues) in Q2 FY16; an increase of a 13% y-o-y.
ATVI generated reported cash flows of $265 million in Q2 FY16 compared to $503 billion in the same period of the last fiscal year; a reduction of 47% y-o-y. The Company generated free cash flow of $234 million in the second quarter of FY17 compared to $459 million in Q2 FY16; a decrease of 49% y-o-y.
The Company paid a cash dividend of $0.30 per common share, which was 15% more y‐o‐y, in May 2017 to shareholders of record at the close of business on March 30, 2017, totaling $226 million.
ATVI expects that for the full year of 2017, net revenues will be $6.4 billion and EPS to be around $1.05. For Q3 FY17, the Company's guidance on revenues is around $1.39 billion and EPS of $ 0.09.
On Friday, August 18, 2017, the stock closed the trading session at $62.01, climbing 1.04% from its previous closing price of $61.37. A total volume of 4.41 million shares have exchanged hands. Activision Blizzard's stock price soared 10.97% in the last three months, 36.80% in the past six months, and 54.95% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 71.73%. The stock is trading at a PE ratio of 42.07 and has a dividend yield of 0.48%. At Friday's closing price, the stock's net capitalization stands at $46.33 billion.
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