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Activision Raises Outlook For Current Fiscal Year On Strong Second Quarter
Activision has announced its second quarter earnings, with revenues that greatly exceed projections. The company has exceeded its target of $910 million, reaching $970 million for the quarter.
Digital revenue represented 49 percent of the company’s total revenue. The publisher also paid out its largest dividend ever of $.20 per share (a total of $147 million).
Activision CEO Bobby Kotick has reiterated his belief that Destiny “will be the largest new intellectual property launch in video game history.” On the strength of the quarter and anticipated sales of upcoming titles, including Destiny, Call of Duty: Advanced Warfare, and Skylanders Trap Team, Activision has raised its full-year outlook.
The company now anticipates $4.24 billion in revenue (up from $4.22 billion). We’ll have more from the earnings call later this afternoon.
[Source: Activision]
Our Take
Activision has had an extremely strong quarter, largely on the back of catalog sales. With the biggest titles ahead (and a big bet on Destiny), Activision is poised to make investors very happy.
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