Mark Androvich
22:32 (BST)
19/12/2007
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Activision raises guidance for Q3 and FY08
Forecasts highest net revenues in the company's history
Activision has announced that, based on better than expected consumer response to its holiday slate worldwide, it is raising its net revenue and earnings per diluted share outlook for the third quarter and for fiscal year 2008.
For Q3, Activision expects record net revenues of USD 1.375 billion and earnings per diluted share of USD 0.76, up from the company's prior net revenues outlook of USD 1.225 billion and earnings outlook of USD 0.66 per diluted share.
Excluding the impact of equity based compensation expense, the company expects earnings per diluted share for the third quarter of USD 0.80, up from the previous outlook of USD 0.70 per diluted share.
For the full fiscal year 2008, Activision expects record net revenues of USD 2.45 billion and earnings per diluted share of USD 0.85, as compared to its previous outlook of net revenues of USD 2.30 billion and earnings per diluted share of USD 0.75.
The company's per share outlook for the third quarter and the full fiscal year 2008 includes costs associated with its recently announced agreement with Vivendi.
"We continue to see strong audience excitement for our products and as a result we are again raising our financial outlook for the December quarter and the fiscal year," said CEO and chairman Robert Kotick.
Activision's stock rose 2.84 per cent to USD 27.56 in after hours trading, having closed at USD 26.80 on the day.
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