Technology Stocks : Activision....Returns!
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From: JakeStraw11/5/2010 10:11:29 AM
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Activision Blizzard Announces Better-Than-Expected Third Quarter 2010 Financial Results

-Third Quarter Net Revenues and EPS Exceed Prior Outlook and Prior Year-
-Company Increases 2010 Net Revenue and EPS Outlook-

Robert Kotick, CEO of Activision Blizzard, stated, "For the third quarter, we exceeded our net revenues and earnings per share outlook and delivered strong year-over-year growth. Our better-than-expected results are due to our leadership in online entertainment, including strong performance from Activision Publishing's Call of Duty® franchise, and Blizzard Entertainment's World of Warcraft® and StarCraft® II: Wings of Liberty™. For the nine months ending September 30, 2010, our digital offerings contributed close to half of our total non-GAAP net revenues and our digital revenues have increased more than 15% over the prior year. Most importantly, we continue to deliver some of the world's best games."

Kotick continued, "Activision Publishing is about to introduce what is likely to be the biggest entertainment launch of the year with Call of Duty®: Black Ops, followed by Blizzard Entertainment's World of Warcraft: Cataclysm™, which we believe will deliver an incredible breadth of new content to the world's largest massively multiplayer online role playing game (MMORPG) community. As a result of our over-performance, we are raising our calendar year 2010 net revenue and earnings outlook. We expect to deliver the most profitable year in our history with record operating margins."
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