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Activision announces strong Q3 earnings

Call of Duty and World of Warcraft add to Activision’s bottom line and the company has said that work is underway on next-gen titles.

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Activision had a strong quarter in Q3, beating Wall Street’s estimates. Earnings per share were at 8 cents, which was more than the estimated 3 cents per share. While Activision managed to do better than predicted, the earnings per share for Q3 2012 were not as strong as Q2 2012, when they were 15 cents per share.

The company earned a total of $691 million in Q3, which is higher than the $635 million outlook that was predicted by industry analysts,but considerably less than what it made in Q2 2012, which was $751 million. Most of the revenue is attributed to games like Skylanders Giants and World of Warcraft.  Thanks to the strong Q3 revenues, Activision has mentioned that it has raised its estimate for 2013 from $4.31 billion to $4.32 billion. Last month, it was announced that Activision will buy back its shares from French conglomerate Vivendi for $8.2 billion.

The Call of Duty series also saw a new release, Call of Duty: Ghosts, which attained a $1 billion sell-in revenue on the first day of its availability. Although there has been a certain amount of controversy regarding the difference in its resolution on the PlayStation 4 and the Xbox One, Activision has maintained that the game will look just as great on both next-gen consoles.

Next-gen titles that are currently being developed at Activision include the likes of Destiny, which is made by Bungie Studios. Bungie signed a ten year publishing agreement with Activision, and Destiny will be the first game that will be launched by Activision. Destiny will feature a new game engine that allows for more robust online matches. Other titles that will be launched on next-gen consoles include the likes of The Amazing Spider-Man 2.

Source: Activision

Harish Jonnalagadda
http://harishjonnalagadda.com
Harish Jonnalagadda is an avid reader of science-fiction novels. A long-time Arsenal fan, his other interests include gaming, basketball and making music. He also likes tinkering with hardware in his free time.

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