Activision's (ATVI) Q2 Earnings Decline Y/Y On Weak Revenues
Zacks Investment Research | Aug 08, 2019 10:37PM ET
Activision Blizzard (NASDAQ:ATVI) reported second-quarter 2019 non-GAAP earnings of 53 cents per share that declined 59.5% year over year.
Consolidated revenues declined 14.9% year over year to $1.40 billion. Adjusting for revenues from non-reportable segments, net effect from recognition of deferred revenues and intersegment eliminations segment revenues declined 13.4% to $1.15 billion.
The Zacks Consensus Estimate for earnings and revenues was pegged at 26 cents and $1.20 billion, respectively.
Notably, GAAP net revenues from digital channels were $1.09 billion in the reported quarter.
Top-Line Details
Segment-wise, product sales (25.7% of consolidated revenues) were $359 million, down 22.6% year over year. Subscription, licensing and other revenues (74.3% of revenues) decreased 11.9% to $1.04 billion.
Based on distribution channels, Activision reported retail channel sales of $193 million, down 30.6% year over year. Digital online revenues of $1.09 billion fell 13.7% from the year-ago quarter. However, other revenues increased 12.5% year over year to $117 million.
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