Activision Blizzard Enjoys Better-Than-Expected Third Quarter
Activision Blizzard generated over $1 billion in operating cash flow, for the third year running.
Activision Blizzard published its third quarter 2012 financial results, and - thanks in no small part to having two of the top five PC games in its stable - the publisher has enjoyed bumper profits. The results have been so good, in fact, that Activision Blizzard is revising its estimated earnings for the year upwards, from $4.33 billion to $4.574 billion.
"We have, for the third straight year, generated over $1 billion of operating cash flow," said CEO Robert Kotick. "Based on our strong third-quarter performance and increased visibility into the remainder of the year," Kotick went on to say, "we are raising our full-year financial outlook." That increased visibility is due in no small part to Call of Duty: Black Ops II [http://www.escapistmagazine.com/news/view/120381-Celebrities-Wage-War-in-New-Black-Ops-II-Trailer], which Kotick believes will be "one of the most successful launches of any form of entertainment in history."
Activision Blizzard was quick to dampen expectations for 2013, claiming that blockbuster business for Diablo III meant that 2013 could never quite match 2012's highlights. Diablo III was the sales front runner in the US and Europe, both in terms of dollars and units. Therefore though 2013 isn't expected to be a bad year, by comparison to 2012 it's not expected to be a stellar year either.
Source: Activision Blizzard Q3 2012 release [http://files.shareholder.com/downloads/ACTI/2146374560x7015563x612530/8efb3a44-ce95-4b82-ab7c-2dc6cce28732/ATVI_Q3_2012_release_and_tables.pdf]
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Activision Blizzard generated over $1 billion in operating cash flow, for the third year running.
Activision Blizzard published its third quarter 2012 financial results, and - thanks in no small part to having two of the top five PC games in its stable - the publisher has enjoyed bumper profits. The results have been so good, in fact, that Activision Blizzard is revising its estimated earnings for the year upwards, from $4.33 billion to $4.574 billion.
"We have, for the third straight year, generated over $1 billion of operating cash flow," said CEO Robert Kotick. "Based on our strong third-quarter performance and increased visibility into the remainder of the year," Kotick went on to say, "we are raising our full-year financial outlook." That increased visibility is due in no small part to Call of Duty: Black Ops II [http://www.escapistmagazine.com/news/view/120381-Celebrities-Wage-War-in-New-Black-Ops-II-Trailer], which Kotick believes will be "one of the most successful launches of any form of entertainment in history."
Activision Blizzard was quick to dampen expectations for 2013, claiming that blockbuster business for Diablo III meant that 2013 could never quite match 2012's highlights. Diablo III was the sales front runner in the US and Europe, both in terms of dollars and units. Therefore though 2013 isn't expected to be a bad year, by comparison to 2012 it's not expected to be a stellar year either.
Source: Activision Blizzard Q3 2012 release [http://files.shareholder.com/downloads/ACTI/2146374560x7015563x612530/8efb3a44-ce95-4b82-ab7c-2dc6cce28732/ATVI_Q3_2012_release_and_tables.pdf]
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