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Activision Blizzard profit beats consensus by 509.2% in Q1

Activision Blizzard Inc. said its first-quarter normalized net income came to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS climbed 28.9% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $307.5 million, an increase of 30.9% from $235.0 million in the prior-year period.

The normalized profit margin rose to 24.1% from 21.2% in the year-earlier period.

Total revenue grew 15.0% on an annual basis to $1.28 billion from $1.11 billion, and total operating expenses grew 7.6% on an annual basis to $736.0 million from $684.0 million.

Reported net income grew 34.5% on an annual basis to $387.4 million, or 53 cents per share, from $288.0 million, or 40 cents per share.