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Guitar Hero II And Licenses Deliver Activision Success News
Jon Wilcox
03/08/2007
Record revenues for the publisher as Shrek, Spider-Man 3, and Guitar Hero II draw in sales...
Activision has today confirmed record quarterly revenues for the fiscal first quarter of 2008, which ended on June 30th 2007. Driven heavily by sales of licenses including Spider-Man 3, Shrek the Third, and the US release of Transformers: The Game, Actvision's net revenues rose a staggering 163% on the year, from $188.1 million (£92.5 million) to $495.5 million (£243.5 million). The company also reversed the net loss of 2007's first quarter to a net income of $27.8 million (£13.7 million).
Robert Kotick, Chairman and CEO of Activision, stated, "During the quarter, we shipped more than eight million units of new game releases worldwide and for the first six months of the calendar year, Activision was the #1 third-party U.S. publisher on the console and handheld platforms. As a result of our strong performance, we are raising our fiscal year 2008 net revenue and earnings outlook and are increasing our fiscal year operating margin outlook to a company record."
Kotick continued, "Our focus on growing our strong franchises and next- generation console leadership position is yielding superb results. We intend to continue expanding our franchise portfolio, strengthening our development capabilities and improving our operating efficiency over the balance of the fiscal year. We believe this strategy will create strengths and capabilities that should enable us to continue growing our revenues, operating margin and earnings per share, as well as increase our return on invested capital."
The publisher has also increased its full year expectations, raising net revenue from $1.80 billion to $1.87 billion (£884.8 million and £919.2 million). Second quarter net revenue results have also been increased to $250 million (£122.9 million).
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you should know that the 360 version is much better with the downloadable songs and the secondary guitarist ... [ Read full comment... ]
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