Activision Blizzard (ATVI) reported 4Q20 results roughly in line with Wall Street estimates that were above the company’s own guidance. More importantly, management provided initial 2021 guidance that was above analyst estimates and appears to be based on conservative assumptions. ATVI shares have been fantastic performers for Northlake over the years and had a particularly […]
There are no changes to Northlake’s favored themes for December. We remain neutral on growth versus value and continue to favor mid caps. As a result, current client positions following the models in the Russell 1000 Growth (IWF), the Russell 1000 Value (IWD), and the S&P 400 Mid Cap (MDY) will be held for at […]
Activision Blizzard (ATVI) reported strong 3Q20 earnings driven by its Call of Duty franchise. Revenues and earnings were above management guidance and the even higher analyst estimates. Management raised the 2020 outlook, and initial comments on 2021 suggest management believes earnings can grow against the tough 2020 COVID-boosted results. Over the summer, we made sales […]
Activision Blizzard (ATVI) reported better than expected 2Q20 earnings, beating on both the top and bottom line. EPS of 97 cents crushed the consensus of 69 cents. Despite the 28 cent beat, management raised 2020 guidance by 45 cents to $3.05. Management showed a high degree of confidence in trends for the rest of 2020 […]
Activision Blizzard (ATVI) beat expectations for 1Q20 earnings and raised guidance for the remainder of 2020 from $2.35 to $2.60. Last quarter, Northlake noted that ATVI 2020 EPS could climb into the $2.50-$2.70 range as benefits from the well-timed restructuring efforts begin to pay off. Consensus estimates for 2020 have now climbed to $2.74, with […]
Activision Blizzard (ATVI) slightly beat expectations for 4Q19 results, with typically conservative guidance for 2020 falling a bit below consensus estimates. Interestingly, Jefferies analyst Alex Giaimo noted that ATVI has beaten initial EPS guidance by 15% on average over the last 4 years. Alongside the results, ATVI also increased the dividend paid to shareholders by […]
Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Activision Blizzard (ATVI) reported 2Q19 results that were overall slightly better than expected. Guidance for 3Q19 was underwhelming from the typically conservative management team, but 2019 guidance and expectations were largely unchanged. The current quarter faces a difficult comparison to last year, when ATVI benefitted from a strong contribution from the Destiny franchise that is […]
Activision Blizzard (ATVI) confirmed it is facing a transition year in 2019 with its 1Q19 earnings report and guidance update. First quarter earnings exceeded Wall Street expectations but management guided 2Q19 below current estimates and maintained full year guidance issued earlier this year. The combination of exiting the Destiny franchise, tough competition from free-to-play games, […]
Activision Blizzard (ATVI) reported record 4Q18 earnings in line with expectations despite sales coming in weaker than hoped. Guidance for 2019 was poor, with sales now expected to be 13% below previous consensus estimates and earnings of $2.10 coming in 16% below consensus. Along with the disappointing guidance, ATVI announced a layoff of 8% of […]
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