Activision Blizzard, Inc. (ATVI) reported net income for the first quarter of or $456 million or $0.40 per share, compared to $384 million or $0.33 per share for the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $199 million or $0.17 per share, compared to $67 million or $0.06 per share in the prior year quarter.
Net revenues for the first quarter rose to $1.32 billion from $1.17 billion a year ago, while adjusted revenue increased to $804 million from $587 million last year.
Analysts polled by Thomson Reuters expected the company to earn $0.11 per share on revenue of $704.20 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecasts net revenue of $980 million, adjusted net revenue of $590 million, earnings of $0.21 per share and adjusted earnings of $0.05 per share. Analyst currently expect the company to earn $0.05 per share on revenue of $605.28 million for the second quarter.
For the calendar year 2013, the company now forecasts net revenue of $4.22 billion, adjusted net revenue of $4.25 billion, earnings of $0.73 per share and adjusted earnings of $0.82 per share. Previously, the company forecast net revenue of $4.085 billion, adjusted net revenue of $4.175 billion, earnings of $0.68 per share and adjusted earnings of $0.80 per share.
Analyst currently expect the company to earn $0.85 per share on revenue of $4.26 billion for the full year 2013.
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