Activision Blizzard Raises FY20 Financial Targets
October 29 2020 - 4:34PM
Dow Jones News
By Kimberly Chin
Activision Blizzard Inc. raised its financial targets for the
year, as sales continued to climb in the third quarter due to
demand for entertainment options and social connections amid the
ongoing pandemic.
The videogame company raised its full-year revenue forecast to
$7.68 billion from its prior outlook of $7.28 billion. Analysts
surveyed by FactSet were projecting $7.83 billion in sales for the
year.
Activision now expects earnings around $2.61 a share and $3.08 a
share on an adjusted basis. In August, it projected per-share
earnings of $2.46 and $2.87 on an adjusted basis. Analysts forecast
full-year adjusted earnings of $3.30 a share.
For the current quarter, Activision expects revenue to be around
$2 billion. It projects fourth-quarter earnings around 44 cents a
share and adjusted earnings around 63 cents a share.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 29, 2020 16:19 ET (20:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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