Activision beats expectations but losses rise in September quarter
Publisher confident of Christmas performance but cautious of slower consumer spending
Sales of Guitar Hero, World of Warcraft, Call of Duty titles and Star Wars: The Force Unleashed have helped Activision Blizzard beat revenue expectations for its first full quarter as a combined company.
Net revenues were USD 711 million for the quarter ended September 30, while the company recorded a net loss of USD 108 million.
"For our first quarter as a combined company, Activision Blizzard's financial results were higher than the outlook we provided on our last earnings call, both on a GAAP and non-GAAP basis," said Robert Kotick, CEO of Activision Blizzard.
While the firm is confident of its performance this Christmas, Kotick did sound a note of caution with regards to slower consumer spending.
"In the December quarter, we will launch our strongest holiday slate ever, which is based on some of the best-selling franchises in the industry.
"We are excited about our holiday releases, which are all based on proven franchises, and will deliver our entire slate on schedule with strong product quality on our key titles. However, we remain cautious given the likely slowdown in consumer spending this holiday season."