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Activision Raises Fiscal Outlook Thanks To 'Record-Breaking' Stimulus Package

Activision Blizzard says that thanks to demand for World of Warcraft and Modern Warfare 2, it expects earnings for its current fiscal quarter to come 2 cents per share higher than initially forecast.
Activision Blizzard says that thanks to demand for World of Warcraft and Modern Warfare 2, it expects revenues for its current fiscal quarter to come in higher than initially forecast. The company raised its earnings outlook for the March quarter to 49 cents per share on a GAAP basis, an increase of 2 cents over the prior forecast. "We benefited from the record-breaking launch of the Call of Duty: Modern Warfare 2 map pack, which was previously expected to launch in the June quarter," says CEO Bobby Kotick. The Stimulus Package map pack, priced at $15, sold 1 million units on Xbox Live on day one, and over 2.5 million in its first week, Activision has said. Kotick also said that operating expenses shifted into the June quarter will help its revenues for the March quarter come in higher. Despite the good news, however, the CEO aimed to assure investors that the company is remaining careful. "It is always helpful to begin a year with great momentum," said Kotick. "However, we remain cautious about the economy and consumer spending and the fact that the majority of our games are not expected to launch until the fall." Jeff Brown, VP of corporate communications at Activision rival Electronic Arts, commented on the news in light of the high-level firings at Modern Warfare 2 developer Infinity Ward: "This is kind of like announcing: The race horse I shot last month has won the Triple Crown!"

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