Activision Blizzard has raised its 2010 earnings outlook following a stronger than expected Q1.
The publisher predicted in February that it would see Q1 GAAP revenues of $1.1 billion, or $525 million in non-GAAP net revenues.
However, an early than expected launch of the Modern Warfare 2 Stimulus Package and impressive sales of World of Warcraft has seen the firm outperform these estimates. The full details of the publisher’s Q1 performance are expected to be announced on Thursday, May 6th.
For the calendar year 2010, Activision now expects GAAP diluted earnings per share of $0.49 and non-GAAP diluted earnings per share of $0.72, compared to its previous outlook of $0.47 and $0.70 respectively."
"We are tracking ahead of our March quarter outlook due to strong global demand for Blizzard’s World of Warcraft and Activision’s Call of Duty: Modern Warfare 2," said Activision CEO Robert Kotick.
"We benefited from the record breaking launch of the Call of Duty: Modern Warfare 2 map pack, which was previously expected to launch in the June quarter. Additionally, certain operating expenses previously planned for the March quarter will now be incurred in the June quarter."
Kotick continued: "It is always helpful to begin a year with great momentum; however, we remain cautious about the economy and consumer spending and the fact that the majority of our games are not expected to launch until the fall.”