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Should You Buy Activision Blizzard (ATVI) Stock Ahead of Earnings?

Shares of Activision Blizzard ATVI gained nearly 1.2% in morning trading Thursday as the company prepares to release its third-quarter 2016 earnings results after the market closes. With gaming industry competitors like Nintendo NTDOY and Electronic Arts EA already reporting mixed results, all eyes will be on ATVI this afternoon.

Our current Zacks Consensus Estimates call for earnings of $0.39 per share and revenues of $1.575 billion. It’s worth noting, however, that Activision has guided for revenue of $1.490 billion, which reflects the new SEC reporting guidelines many video game companies have had to follow. The company will no longer include the impact from revenue deferrals accounting treatment on certain online enabled products.

Overall, increasing digital revenues and continued strength of the Call of Duty franchise, as well as new games like World of Warcraft: Legion and Destiny: Rise of Iron should help pad...