(RTTNews) – Activision Blizzard (ATVI), one of the world’s most popular video game producers saw its shares gaining nearly 20% during the last one month. Wednesday, the stock was up $1.26 or 1.92% before closing at $66.98, close to its 52-week high of $68.32.
During the coronavirus pandemic, since most of the people are confined to homes, many are entertaining themselves by playing video games.
In the fourth quarter, more than 409 million people played Activision’s games compared with 356 million people in the same quarter a year ago.
Looking forward to the first quarter, the company sees adjusted EPS at $0.66 on revenue of $1.64 billion. On average 29 analysts polled by Thomson Reuters currently estimate earnings of $0.38 per share and revenues of $1.32 billion.
The company intends to release its first-quarter results on Tuesday, May 5.
For the full-year, EPS on an adjusted basis is expected at $2.22 on revenue of $6.45 billion. Analysts estimate earnings of $2.48 per share and revenues of $6.86 billion.
In the fourth quarter ended December 31, 2019, Activision had net revenues of $1.986 billion, down from $2.38 billion last year.
Earnings of $1.23 per share, however, beat the Street estimates of $0.62.