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Activision Blizzard profit beats consensus by 201.4% in Q2

Activision Blizzard Inc. said its second-quarter normalized net income came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS rose 7.0% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.3 million, a gain of 8.5% from $162.5 million in the prior-year period.

The normalized profit margin climbed to 16.9% from 16.8% in the year-earlier period.

Total revenue rose 7.6% on an annual basis to $1.04 billion from $970.0 million, and total operating expenses grew 7.9% year over year to $712.0 million from $660.0 million.

Reported net income increased 5.0% on an annual basis to $213.2 million, or 29 cents per share, from $203.0 million, or 28 cents per share.