Activision Blizzard, Inc. (NASDAQ:ATVI) released its earnings numbers for the three months through September 2013 this afternoon after the market closed on Wall Street. The company showed earnings per share of 8 cents for the third quarter of the year on revenue totaling $657 million. Stock in Activision Blizzard trended up a fraction on Wednesday’s market to finish the day at $16.53 per share.
Analysts following Activision Blizzard, Inc. (NASDAQ:ATVI) were looking for earnings per share of 4 cents from this afternoon’s earnings report. The same analysts were looking for revenue totaling $594 million for the third quarter. In the same three months of 2012 Activision Blizzard earned 15 cents per share on revenue of $751 million.
Activision Blizzard earnings
This afternoon’s earnings report showed a weaker Activision Blizzard, Inc. (NASDAQ:ATVI), but one primed for growth as it heads toward the sales flurry hoped for in the fourth quarter of the year. The company, like most in the games industry, has seen its results depressed in the last year as demand for games declined in the face of a generation shift.
Sony Corporation (NYSE:SNE) (TYO:6758) is headed toward the release of its next-generation console, the Playstation 4 on November 15, while chief rival Microsoft Corporation (NASDAQ:MSFT) will launch the Xbox One on November 22. The release of the new consoles is hoped to bring with it a return to health in the console games industry as gamers make the change to the next generation in time for Christmas.
Activision Blizzard stock
Shares in Activision Blizzard, Inc. (NASDAQ:ATVI) have increased by more than 55% since the year began. The company has performed well on the back of a boom in the stock market and its own performance in earnings reports. The company is still relatively conservatively valued compared to its chief rivals. Electronic Arts trades for more than 36 times 2012 earnings, while Activision trades at less that 14 times 2012 earnings.
Executives from Activision Blizzard, Inc. (NASDAQ:ATVI) will host an earnings call in order to discuss this numbers at 4:30 p.m. EST. Investors and analysts will be looking to question the company’s management on its outlook for the fourth quarter of 2013, and the company’s strategy for the next generation of consoles, and the full year 2014.