Activision enjoys $345m profit in FY ‘08

Activision has reported a $344.9 million net profit for the 12 months to March 31st this year – up from $85.8 million in FY 2006-2007.

The firm enjoyed $2.9 billion in revenues for the full fiscal year – almost double the $1.51 billion earned in the previous year.

For its three month fourth quarter, Activision reported net profit of $44.2 million, compared with a net loss of $14.4 million in Q4 2006-2007.

Fourth-quarter net revenues stood at $602.5 million, up a whopping 93 per cent from the $312.5 reported for Q4 in fiscal 2007.

Activision's Q4 results were driven by the continued success of Guitar Hero III: Legends of Rock and Call of Duty 4: Modern Warfare – which offset a lack of major new releases in the period.

Not including the increase due to the merger with Vivendi, Activision predicted net revenues of $2.75 billion for the next fiscal year.

It forecast net revenues of $500.0 million for Q1, 2009.

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