Activision beats Street in second quarter, shares jump

The company did not make any share repurchases during the second quarter under its $750 million share repurchase authorization ending February 2017. The company has a market cap of $18,532 million and the number of outstanding shares have been calculated to be 726,186,000 shares. The company had a trading volume of 8,445,287 shares. The stock’s 50 day moving average is $25.39 and its 200 day moving average is $23.86. Analyst estimates projected Activision would report earnings of 8 cents a share off revenue of $665.5 million. But new numbers released today as part of Activision’s second quarter 2015 financial results may explain why the developer is rushing into what’s next.

Activision Blizzard, Inc (NASDAQ:ATVI) has dropped 1.49% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 4.71% in the last 4 weeks. Activision Blizzard, Inc (ATVI:NASDAQ): 15 analysts have set the short term price target of Activision Blizzard, Inc (ATVI:NASDAQ) at $27.86.

Hearthstone, Heroes of the Storm, and Destiny combined for 70 million registered players and over $1.25 billion in revenue life-to-date.

According to the press release from Activision, World of Warcraft is at 5.6 million subscribers as of the end of the second quarter, which is June 30, 2015. The shares closed down 0.27 points or 1.04% at $25.79 with 5,169,751 shares getting traded. Profit, meanwhile, was $93 million, double the $45 million in net income this time a year ago.

Activision Blizzard expects full-year earnings to be $1.30 per share, with revenue expected to be $4.6 billion. The company now has an average rating of Buy and a consensus target price of $28.34. Activision Blizzard has a 12 month low of $17.73 and a 12 month high of $26.45.

Activision, Inc.is a publisher of online, personal computer, console, handheld, mobile and tablet games. The Company also develops products spanning other genres, including first-person action, action/adventure, role playing, simulation and strategy. The Organization ‘s operating segments comprise Activision Publishing, Inc. and its subsidiaries, Blizzard Entertainment, Inc. and its subsidiary companies, and Activision Blizzard Distribution.