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Activision Blizzard announces better than expected Q2 results

Activision Blizzard has announced that for the financial quarter ended June 30, 2012, it manages to earn $1.08 billion, as compared with $1.15 billion for the second quarter of 2011.

The company’s net revenues were $1.05 billion, as compared with $699 million for the second quarter of 2011.  Revenue from digital channels were $343 million and represented 32% of the company’s total revenues.

“Our performance was driven by strong audience demand for our great games, said CEO Bobby Kotick. “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.

“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.”

“For the remainder of the year, we are excited about our product slate which includes Activision Publishing’s Skylanders Giants and Call of Duty: Black Ops II, and Blizzard Entertainment’s World of Warcraft: Mists of Pandaria. 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.”

Selected Business Highlights:

  • In North America and Europe, including accessory packs and figures, Activision Publishing’s Skylanders Spyro’s Adventure was the #1 best-selling console and hand-held game overall in dollars for the first six months of 2012. Additionally, Skylanders Spyro’s Adventure was the #1 action-figure line in the U.S., outselling all other action-figure lines for the first six months of 2012.
  • For the June quarter, Activision Blizzard was the #1 independent game publisher overall in North America and Europe.
  • Blizzard Entertainment’s Diablo III, released on May 15, 2012, set a new industry launch record for PC games and was the #1 best-selling PC game for the first six months of 2012. Through July, more than 10 million players have entered the world of Sanctuary.
  • As of June 30, 2012, Blizzard Entertainment’s World of Warcraft remains the subscription-based MMORPG and had approximately 9.1 million subscribers
  • Blizzard Entertainment announced that the company expects to release World of Warcraft: Mists of Pandaria on September 25, 2012.
  • On July 3, 2012, Activision Publishing and Tencent Holdings Limited, a leading Internet services provider in China, announced a strategic relationship to bring the Call of Duty franchise to Chinese game players. Under the multi-year agreement with Activision Publishing, Tencent has the exclusive license to operate Activision’s new Call of Duty game in mainland China.  The game will be  free-to-play and monetized through the sale of in-game items.
  • During the quarter, Activision Blizzard paid a cash dividend of $0.18 per common share, totaling $204 million, to shareholders of record at the close of business on March 21, 2012.  This represented a 9% increase over the dividend that was paid in 2011.
  • During the quarter, Activision Blizzard purchased an aggregate of 4.4 million shares of its common stock for an aggregate purchase price of approximately $54 million.

Edited On 02 Aug, 2012

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