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Message Boards Settings Activision Blizzard, Inc. (ATVID) - Quote Info
3rd Quarter Earnings (GAAP basis)     25-Sep-09 05:52 pm    
Looks like 26 analysts (on average) are thinking .04 for the 3rd quarter. The low is .03 and the high is .09...

The last 2 quarters for 2009 were:

Mar. 2009 = 981 million revenue (.14/share, net income = 189 million, net margin = 19.3%)
June 2009 = >1,038 million revenue (.15/share, net income = 195 million, net margin = 18.8%)

Breaking down the last quarter (June 2009 or 2nd Qtr), the revenue breakdown was as follows:

MMORPG (WoW) = 324 million
PC and other = 41 million
PS3 = 152 million
PS2 = 44 million
Xbox 360 = 231 million
Wii = 118 million
Total Console Sales = 545 million
PSP = 17 million
DS = 48 million
Total Handheld = 65 million
Total (ALL) = 975 million
Distribution = 63 million
Total GAAP Net Revenues = >1,038 million as mentioned above

In trying to project numbers for the 3rd quarter, I found VGChartz.com (how reliable, I don't know) and they have sales numbers for video games (all except PC). For the 2nd quarter, ATVI sold the following (for all consoles):

3.6 million games in April '09
2.3 million games in May '09
3.3 million games in June '09
Total = 9.2 million games sold in the 2nd Qtr.

Looking at the revenue breakdown, the revenues for all consoles was 545 million + handheld at 65 million = 610 million total.

610 million / 9.2 million copies = $66 a game (Guitar Hero games can be more than the standard $59.99 price... The $66 looked off, but this could be true)

So far in the 3rd Qtr., according to VGChartz.com, these are the sales numbers for the ATVI...

1.9 million games in July
1.3 million games in August
1.8 million games in September (as of the week of 9/12)
Total = 5.0 million copies sold in the 3rd Qtr. so far.
At $66 a game, revenue for all console sales is 330 million. Marvel Ultimate Alliance isn't even on VGChartz.com for September yet or additional GH5, MW sales, so I boosted sales to 5.5 million x $66/game = 363 million in revenues from consoles.

So,
363 million from consoles
275 million from WoW (previous Qtr. was 324 million, but I think I remember reading NetEase paid ATVI a sum for setting up WoW in China)
50 million for "PC and other" and "Distribution"
Total = 688 million for the Qtr.

With previous Qtr's net margins of an avg. of 19%...
688 million x 0.19 = 130 million
130 million / 1.27 billion shares outstanding = 10.2 cents/share.

The stock buyback (if the remaining 582 million is spent on that went through) doesn't really make much of a dent on EPS as ATVI has A TON of shares outstanding...

So, it looks like 10 cents a share possibly??? I used a ton of chicken scratch to put this together and post what I think could be earnings on this board.

Does anyone else think we could end up exceeding the average estimates this Qtr? Am I missing something???


Sentiment : Strong Buy
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investor233...


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  Subject Author Rating Time of Post (ET)  
 
3rd Quarter Earnings (GAAP basis)
investor233... 25-Sep-09 05:52 pm  
 
I think ATVI crushed earnings the last 3times(sinc...
redzombie85 Rate it 26-Sep-09 12:31 am  
 
they will beat the street
rallycat67 Rate it 5-Nov-09 07:53 am  
 
Thanks for breaking down the numbers investor233. ...
ramototti10 Rate it 26-Sep-09 05:57 am  
 
tickets for blizzcon are like 100$ though. I'...
redzombie85 Rate it 27-Sep-09 12:48 am  
 
Negative. Blizz has stated in the past t...
a_seinto Rate it 27-Sep-09 04:40 am  
 
Good point Ramototti. Check out the link bel...
investor233... Rate it 27-Sep-09 09:28 pm  
 
*bump* Earnings getting closer!
investor233... Rate it 25-Oct-09 11:12 pm  
 
Interesting analysis even if it is chicken sc...
lagolde1 Rate it 26-Oct-09 09:05 am  
 
It seems that even crushing the earnings isn't eno...
fishfryer52... Rate it 26-Oct-09 10:51 am  
 
You can't go wrong with TTWO going into earni...
rallycat67 Rate it 26-Oct-09 11:21 am  
 
One last bump (earnings tomorrow)... Based on s...
investor233... Rate it 4-Nov-09 01:16 pm  
 
I know nothing, but looks like a slightly mor...
riskygrowth... Rate it 4-Nov-09 05:05 pm  
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