Activision Blizzard, Inc. (ATVI) reported that its third- quarter net earnings were $15 million or $0.01 per share, compared to a loss of $108 million or $0.08 per share in the same quarter last year.
Non-GAAP net earnings for the quarter were $55 million or $0.04 per share, compared to $92 million or $0.07 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues for the quarter were $703 million, compared to $711 million in the prior year quarter. On a non-GAAP basis, the company's net revenues for the latest quarter were $755 million. Twenty four analysts had consensus revenue estimate of $724.04 million for the quarter.
For the fourth quarter, Activision Blizzard expects to deliver GAAP net revenues of $1.33 billion and GAAP loss per share of $0.04. On a non-GAAP basis, the company expects net revenues of $2.22 billion and $0.43 earnings per share for the fourth quarter. Analysts expect the company to report earnings of $0.44 per share on revenues of $2.30 billion for the fourth-quarter.
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