Activision Blizzard has announced better-than-expected financial results for the first quarter 2010. For the quarter ended March 31, 2010, Activision Blizzard’s GAAP net revenues were $1.3 billion, and its non-GAAP net revenues were $714 million.
For the quarter ended March 31, 2010, Activision Blizzard’s reported GAAP earnings per diluted share were $0.30, and the company’s non-GAAP earnings per diluted share were $0.09.
Robert Kotick, CEO of Activision Blizzard:
“Our better-than-expected first quarter performance was driven by strong global consumer demand for Activision’s Call of Duty and Blizzard Entertainment’s World of Warcraft. Activision’s Call of Duty: Modern Warfare 2 was the #1 title overall in the U.S. and Europe for the quarter, which illustrates the continued momentum of our catalogue. Additionally, during the quarter, Activision launched DreamWorks’ How To Train Your Dragon and the Call of Duty: Modern Warfare 2 Stimulus Package, which shattered Xbox LIVE records with more than one million packages downloaded in the first 24 hours.
Throughout the remainder of the year, we plan to release our strongest video game lineup ever based on some of the industry’s highest quality, profitable franchises. We expect to deliver record calendar year non-GAAP net earnings and expanded non-GAAP operating margins. In addition, we continue to strengthen our franchise portfolio and development resources for the future. Our high-quality brands, industry leading operational capabilities and solid balance sheet should enable us to take full advantage of the opportunities afforded by the expanding interactive entertainment market and allow us to deliver continued superior returns to our shareholders.
As of March 31, 2010, we have delivered compound shareholder returns of 28% compared to the S & P average of -2 % over a ten-year period. We continue to find ways to add profitable franchises that allow us to increase our operating margins. In this regard we recently announced a ten-year alliance with Bungie, one of the premier studios in our industry. This relationship will allow Activision to broaden its product portfolio with exciting new games and underscores our commitment to partnering with the best creative talent in the industry.”
Good for Activision. But Kotick is always after the money. He doesn’t give shit about gamers.