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Activision's (ATVI) Q3 Earnings Decline Y/Y on Weak Revenues

Zacks Equity Research

Activision Blizzard ATVI reported third-quarter 2019 non-GAAP earnings of 38 cents per share that declined 9.5% year over year.

Consolidated revenues declined 15.2% year over year to $1.28 billion. Adjusting for revenues from non-reportable segments, net effect from recognition of deferred revenues and intersegment eliminations segment revenues declined 28.3% to $1.10 billion.

The Zacks Consensus Estimate for earnings and revenues was pegged at 25 cents and $1.17 billion, respectively.

Top-Line Details

Segment-wise, product sales (20.3% of consolidated revenues) were $260 million, down 1.1% year over year. Subscription, licensing and other revenues (79.7% of revenues) decreased 18.2% to $1.02 billion.

Based on distribution channels, Activision reported retail channel sales of $93 million, up 22.4% year over year. Other revenues increased 9.4% year over year to $175 million. However, digital online revenues of $1.02 billion fell 20.5% from the year-ago quarter.

Activision Blizzard, Inc Price, Consensus and EPS Surprise

Activision Blizzard, Inc Price, Consensus and EPS Surprise

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