Net revenues dip to US$1.08bn for Activision Blizzard in Q2
Activision Blizzard's headquarters in Santa Monica, California. Image via Wikimedia Commons
Video-game maker Activision Blizzard saw net revenues drop to US$1.08bn in the second quarter, a decrease from US$1.15bn from Q2 2011.
On a non-GAAP basis, the company's net revenues totalled US$1.05bn, which is an increase from US$699m from the same period last year.
For the second quarter, which ended 30 June 2012, GAAP net revenues from digital channels amounted to US$343m and represented 32pc of the company's total revenues.
On a non-GAAP basis, net revenues from digital channels were a record US$497m and represented 47pc of the company's total revenues.
Activision Blizzard's GAAP earnings per diluted share were US$0.16, as compared with US$0.29 from the year-ago period.
On a non-GAAP basis, the company's earnings per diluted share reached US$0.20, an increase from US$0.10 in Q2 of 2011.
"On a non-GAAP basis, we delivered record Q2 and first half net revenues, operating income and earnings,” said Bobby Kotick, CEO of Activision Blizzard.
“Our performance was driven by strong audience demand for our great games. We are very excited to have announced our expanded investment in China through Activision Publishing's agreement with Tencent to bring the Call of Duty franchise to the Chinese market."
Best-sellers in Europe and North America - Activision Blizzard CEO
Kotick added that for the first six months, Activision Blizzard had the top 3 best-selling games in North America and Europe with Skylanders Spyro's Adventures and Call of Duty: Modern Warfare 3, and Blizzard Entertainment's Diablo III.
"While we are increasing our financial outlook for full year 2012, we remain cautious given economic uncertainty, risks to consumer spending especially during the holiday season and the recognition that the majority of our key franchise launches are still ahead of us," Kotick added.
For the full year, Activision Blizzard has raised its outlook to US$4.63bn and 99 cents in profit from US$4.53bn and 95 cents.