Activision Blizzard experiences better than expected Q3


9 Nov 2011

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

A shot from Call of Duty: Modern Warfare 3

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Activision Blizzard experienced a stronger than expected third quarter due to consumer interest in its new games and the company expects to raise its full-year financial outlook.

Total revenue hit US$754m, compared with US$745m from last year.

Activision’s net income was $148m or 13 cents per share in this period, compared with $51m or 4 cents per share last year.

Its digital channels accounted for 57pc of net revenues and retail channels accounted for 33pc of revenues. There was stronger than expected consumer interest in games such as Skylanders: Spyro’s Adventures and Call of Duty: Modern Warfare 3, which experienced record pre-orders.

The company also launched Call of Duty Elite, an online service which utilises social networking features and videos to make playing the Call of Duty series with others more accessible.

“We continue to strengthen our position as the worldwide leader in interactive entertainment and the broadening of our audiences is confirmation that games are becoming as important as film and television as a mass market form of entertainment,” said Activision Blizzard’s CEO Robert Kotick.

Kotick expects to deliver record operating margins and the highest earnings-per-share in the company’s history for its full-year financial outlook.

For 2012, Activision Blizzard expects major interest in a number of upcoming titles, such as a new Call of Duty game and Diablo III.