Activision beats Q2 outlook by $100m
Friday, 3rd August 2012 at 6:28 am
Revenue soars to over $1bn
Activision-Blizard revealed the fruits of a strong quarter today, claiming over $1 billion in revenues.
This figure beat projections by $100 million, and gives the company a net income of $185 million.
"On a non-GAAP basis, we delivered record Q2 and first half net revenues, operating income and earnings," said Activision CEO Bobby Kotick.
Kotick pointed to strong demand for a catalogue that includes some of the best-selling games of the year.
"For the first six months, we had the top three best-selling games in North America and Europe with Activision Publishing's Skylanders Spyro's Adventures and Call of Duty: Modern Warfare 3, and Blizzard Entertainment's record setting Diablo III."
The Call of Duty franchise has been even more profitable for the company due to the success of Call of Duty Elite, a premium service which boasts over 12 million subscribers.
With three new games in major franchises being launched this year, the company has cause for optimism, but is adopting a guarded posture.
"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," said Kotick.
This attitude was matched by investors, who reacted with an uncertainty signaled by a downward waver in company share price.
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