Macro Tsimmis

intelligently hedged investment

Activision Blizzard (ATVI) update #13—1Q10 results beat guidance

Posted by intelledgement on Fri, 16 Apr 10

Our game publishing company, Activision Blizzard (ATVI), is not due to announce 1Q10 results for another few weeks, but they did issue a press release yesterday stating that “March quarter 2010 GAAP and non-GAAP net revenues and earnings per share are tracking ahead of the company’s prior outlook.” And no wonder, given the outstanding performance of the “Call of Duty” franchise, which experienced over one million downloads of the latest expansion pack in the first 24 hours for the Xbox LIVE platform according to an ATVI press release last week. “According to Microsoft, Call of Duty: Modern Warfare 2 players have invested more than 1.75 billion hours of gameplay on Xbox LIVE alone since the title’s release in November, which is equal to more than 200,000 years of gameplay,” stated the press release. Not sure what that says about the state of modern civilization, but ATVI stock closed yesterday at $11.67, which is up 6% YTD (counting a fifteen-cent dividend issued in February).

Speaking of “Call of Duty,” the Infinity Ward co-founders fired by Activision Blizzard last month, Jason West and Vince Zampella, announced on Monday that they have formed a new game design studio—archly monikered Respawn Entertainment—and signed an exclusive distribution deal with ATVI arch-rival Electronic Arts. It will be interesting to see how many Infinity Ward design staffers follow their ex-bosses into exile.

Previous ATVI-related posts:

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