Activision Triples Profits In Third Quarter Of Fiscal Year

By Patrick Molloy on November 9, 2011, 9:14PM EDT

Activision Blizzard have substantially beaten financial analyst expectations in its third fiscal quarter ending September 30. Profits for the company were reported at $148 million for the quarter, nearly tripling the $51 million reported during the same period one year ago.

The majority of revenue came from the company's digital channels: specifically, $427 million of $754 million in total net sales, a 16 percent increase year-on-year.

"As we focus on 2012, we have a strong product pipeline which features a minimum of two highly-anticipated new titles from Blizzard Entertainment, including Diablo III, and a new Call of Duty game from Activision Publishing," said CEO Bobby Kotick in a statement.

"As a result, we expect to deliver another year of profitable growth. I believe our unyielding commitment to excellence and our creative talent around the globe will continue to position Activision Blizzard as the leader in interactive entertainment"

The company has now raised its annual revenue forecast from its initial $4.18 billion estimate to $4.25 billion.

Source: CVG

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