Despite beating both earnings and revenue estimates for the first quarter, Activision Blizzard disappointed on its guidance for the full year 2019.
The video game company’s earnings per share came in at 58 cents on a GAAP basis, racing ahead of Wall Street estimates of 44 cents. The earnings-per-share, however, was -10.7% lower from the year-ago quarter.
Sales declined -7% year-over-year to $1.83 billion, but surpassed analysts’ expectations of $1.22 billion.
Looking ahead, Activision forecasts full year 2019 GAAP earnings-per-share of $1.18 – which is lower compared to analysts’ expectations of $1.32. The company predicts that revenue would be $6.025 billion for 2019, below Wall Street forecasts of $6.43 billion.
The company's shares lost more than -4% during after-hours trading Thursday.
a publisher of online, personal computer, console, handheld and mobile interactive entertainment products
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