Activision Reports Record Q1 Results

Officials from Activision have reported the company’s earnings for the three months ended 30th June with revenues up $52.6 million to $211.3 million, from the same period last year. Income also rose by $7.8 million to $12 million. These results are the best ever for the company during the first quarter and are largely due to the success of film licenses Spider-Man 2 and Shrek 2, which have now shipped five million units combined – with Spider-Man 2 having only gone on sale comparatively recently. For the full year the company expects to exceed revenues of $1 billion – the first ever third-party publisher, after Electronic Arts, to do so. In commenting on next generation platforms CEO Bobby Kotick has stated that he has “very modest expectations” for the Nintendo DS and PlayStation Portable this financial year, but expects both formats to become major revenue streams in the long term. While reconfirming plans for sequels to all their major franchises, including Call of Duty and Quake, the company also confirmed that “Resident Evil meets GTA” title Dead Rush had been cancelled, despite a promising showing at E3. President Ron Doornik would comment only that the title “didn’t meet Activision’s standards for a big proposition.” Source: PR Newswire