Activision Blizzard (NASDAQ:ATVI) is scheduled to announce Q3 earnings results on Monday, Nov. 7, after market close.
The consensus EPS estimate is $0.50 (-30.6% Y/Y) and the consensus revenue estimate is $1.71B (-9% Y/Y).
Over the last 2 years, ATVI has beaten EPS estimates 63% of the time and revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 6 upward revisions and 16 downward. Revenue estimates have seen 8 upward revisions and 10 downward.
- Shares of the video game maker were flat after its bookings topped expectations in Q2 and operating income saw broad sequential gains.
- Benchmark noted the solid results and significant H2 game pipeline that should serve as catalysts for growth in Q4 and FY23.
Updates on Microsoft deal:
- Microsoft (MSFT) reportedly did not offer any remedies in Europe’s antitrust review of its planned $69B purchase of Activision (ATVI). The European Commission set a provisional deadline of Nov. 8 to decide on the deal.
- The U.K.’s antitrust regulator, in its in-depth review of the deal, is looking at whether Microsoft (MSFT) will make Call of Duty an Xbox exclusive. It is conducting phase 2 review of the deal and plans to provide provisional findings in Jan.
- Microsoft, meanwhile, raised concerns about the influence of Sony (SONY) on U.K. regulators, saying it significantly exaggerated the importance of Call of Duty.
- Australia’s antitrust regulator delayed its decision on the deal, pending receipt of information, but Brazil’s antitrust regulator approved the deal without conditions.
- The U.S. FTC’s decision on the deal may reportedly come in later this month.
SA contributor Vera Glebova projected 80% chance of the Microsoft (MSFT) deal being cleared in a recent bullish analysis.
Shares of Activision (ATVI) gained 6.5% YTD, outperforming the S&P 500 and Nasdaq 100 indices by a wide margin.