Activision has announced record financial results for the third fiscal quarter, with net revenues of $1.48 billion. An 80 per cent increase over the previous year, with net income at $272.2 million.
Nine month net revenues were $2.3 billion, over $1 billion more than the previous fiscal year. Net income for the first nine months was $300.7 million. Activision now expects total net revenue to hit $2.65 billion by the end of March.
"For the first time, we were the number one US console and handheld publisher for the calendar year, according to The NPD Group,” commented Activision chairman and CEO, Robert Kotick. With videogame software sales increasing 37 per cent in the United States overall, the videogame market growth exceeded even our own forecasts, and we believe this momentum will continue over the coming years. Broader audiences are responding to products like Guitar Hero and we expect that the demographics for videogames will continue to expand.
Two of our wholly owned, internally developed franchises - Call of Duty 4: Modern Warfare and Guitar Hero III: Legends of Rock - set industry records,” added Kotick. Our product and market momentum gives us confidence to once again raise our fiscal year 2008 net revenues and earnings outlook, as we continue to focus our marketing and sales efforts."