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Destiny Drives Activision Blizzard Earnings Past Estimates
With six franchises driving revenue, Activision Blizzard has surpassed its Q4 earnings estimates.
Driven by Destiny's wildly successful launch, Diablo III, and Hearthstone, Activision Blizzard reported its biggest third quarter in history, with sales rising 78 percent over last year. More than two thirds of that revenue came from digital channels.
"We've never had as much good content as we've had this year," CEO Bobby Kotick said during the conference call.
With Call of Duty: Advanced Warfare, Skylanders Trap Team, World of Warcraft: Warlords of Draenor, and a Destiny expansion continuing to drive interest in Q4, Activision expects these record revenues to continue through the rest of 2014.
Our Take
As with Electronic Arts and Take-Two's strong earnings, Activision is proving that software giants can still drive growth as the industry diversifies its financial models and platforms.
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