Activision Blizzard Reportedly Laying Off Hundreds of Staff

Activision is about to lay off hundreds of employees

Shares of Activision Blizzard, Inc. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, February 12th.

Shares at the company have dropped by 2.5% to $42.88 on Friday, with analysts expecting the company's sales to drop by an estimated 2% this year to £7.28 billion. For the financial results of the preceding quarter, the company posted earnings of 0.41, in comparison to the average analyst forecast of 0.35 - representing a difference of 0.06 and a surprise factor of 16.74. (NASDAQ:ATVI). Condor Management has invested 0.44% in Activision Blizzard, Inc. If $1.22 is reported, ATVI's profit will be $930.92M for 8.22 P/E. 159.57 % EPS growth is what analysts predict. $0.47 EPS was published for last quarter. The firm has "Overweight" rating given on Monday, October 15 by Barclays Capital. Compared to the same quarter past year, the firm's revenue was up by 21.15%.

Earnings Expectations: If we take an observation in front to the next coming days, Street analysts have hope earnings growth of -7.00% for this year and may be getting earnings growth of 0.38% for next year. In the second quarter previous year, the firm recorded $0.41 earnings per share.

Several research firms have recently issued reports on ATVI.

Now keeping in the same vein of current price performance, Activision Blizzard, Inc. has a total market capitalization right now sitting at 32.76B - with $754.59M total shares outstanding at the time of writing.

More news: Russian Federation plans to temporarily disconnect the entire country from the internet

The price target set for the stock is $63.67. In the meantime, the Activision Blizzard, Inc.

Analyst notified mean rating at 2.10 after consensus analysis.

Reiterated Activision Blizzard (NASDAQ:ATVI) Rating. Finally, Mondrian Capital Management LLC purchased a new stake in Activision Blizzard in the fourth quarter worth $47,000. Following these latest developments, around 40.70% of Coty Inc. stocks are owned by institutional investors and hedge funds. (ATVI) have dropped -30.9% since the company's last earnings report. 19,255,366 shares of the company's stock were exchanged, compared to its average volume of 11,717,568. As for a performance, the company's showed return of -6.79% since start of the year.

Coincidentally, the layoffs seem to come just a month after it was announced that the developer of the Destiny franchise, Bungie announced that it was ending its partnership with Activision Blizzard. The firm develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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