Stock Monitor: Sea Ltd Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 5, 2018 / If you want access to our free earnings report on Activision Blizzard, Inc. (NASDAQ: ATVI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ATVI. The Company reported its first quarter fiscal 2018 operating and financial results on May 03, 2018. The video game manufacturer delivered all-time high quarterly earnings and surpassed market estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the quarter ended March 31, 2018, Activision Blizzard's net revenues were a Q1 record $1.97 billion, up 14% compared to $1.73 billion in Q1 2017.
During Q1 2018, Activision Blizzard's revenues from digital online channels were $1.46 billion, or 74% of consolidated net revenues, compared to $1.39 billion, or 80% of consolidated net revenues, in Q1 2017.
For Q1 2018, Activision Blizzard's consolidated operating income increased 21% to $595 million compared to $493 million in Q1 2017. The Company's operating margin was 30.3% in the reported quarter compared to 28.6% in the year earlier same quarter.
Activision Blizzard's GAAP earnings per share (EPS) were an all‐time quarterly record $0.65 in Q1 2018, up 16% compared to $0.56 in Q1 2017. For the reported quarter, on a non‐GAAP basis, the Company's diluted EPS were an all‐time quarterly record $0.78, up 8% versus $0.72 in the year earlier comparable quarter. Activision Blizzard's earnings beat Wall Street's estimates of $0.34 per share.
For the quarter ended March 31, 2018, Activision Blizzard's net bookings were a Q1 record $1.38 billion compared to $1.20 billion in Q1 2017, and exceeded analysts' estimates of $1.34 billion. The Company's net bookings from digital channels were a Q1 record $1.20 billion compared to $1.07 billion in Q1 2017.
During Q1 2018, Activision Blizzard had 374 million monthly active users (MAUs), whereas King had 285 million MAUs. King's engagement remained strong with daily time spent per user at record levels. Activision had 51 million MAUs, while Blizzard had 38 million MAUs.
Activision Blizzard delivered a Q1 record of approximately $1 billion of in‐game net bookings. King's mobile business had the highest quarterly net bookings in its history. The division's total net bookings were up 13% on a y-o-y basis, and reached their highest level since Q1 2015, just after Candy Crush Soda Saga was released. For the reported quarter, King had two of the top‐10 highest‐grossing titles in the US mobile app stores for the eighteenth quarter in a row, with Candy Crush Saga™ and Candy Crush Soda Saga at #1 and #2 for the second quarter in a row, respectively.
For Q1 2018, Activision Blizzard's operating cash flow was a Q1 record $529 million, up 29% on a y-o-y basis. The Company finished the quarter with approximately $5.3 billion in cash and investments; $4.4 billion in aggregate debt outstanding; and a net cash position of roughly $860 million.
Activision Blizzard's net bookings are expected to be $7.48 billion for FY18 and $1.35 billion for Q2 2018.
For the second quarter of the fiscal year 2018, on a GAAP basis, Activision Blizzard is forecasting net revenues of $1.56 billion, including the net recognition of deferrals of $205 million; product costs and game operations and distribution expenses of 22%; and operating expenses of 57%. The Company is estimating GAAP EPS of $0.26, and non-GAAP EPS of $0.46, including the net recognition of deferrals of $0.15 per share.
For the full fiscal year 2018, Activision Blizzard is projecting revenues of $7.36 billion on a GAAP basis, including deferrals of $120 million; product costs and game operations and distribution expenses of 22%; and operating expenses of 53%. The Company is estimating GAAP EPS to be approximately $1.79 and non-GAAP EPS of $2.46, including deferrals of $0.05 per share.
Stock Performance Snapshot
June 04, 2018 - At Monday's closing bell, Activision Blizzard's stock marginally fell 0.33%, ending the trading session at $72.79.
Volume traded for the day: 4.12 million shares.
Stock performance in the last month – up 8.93%; previous six-month period – up 16.65%; past twelve-month period – up 22.03%; and year-to-date – up 14.96%
After yesterday's close, Activision Blizzard's market cap was at $53.80 billion.
Price to Earnings (P/E) ratio was at 56.82.
The stock has a dividend yield of 0.47%.
The stock is part of the Technology sector, categorized under the Multimedia & Graphics Software industry. This sector was up 0.9% at the end of the session.
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