Activision-Blizzard released it’s Q1 2014 earnings today, and it was quite a strong for publishing giant. Quarter 1 revenue for Activision saw $1.11 billion in revenue, over $300 million more then the originally projected $885 million. This revenue is down from Q1 2013, which saw $1.32 billion in revenue, but they kept the same earning per share of .40.
Because of this news, Activision is raising it’s outlook for the fiscal year 2014. Activision-Blizzard previously expected $4 billion in net revenues for the year, but has upped the amount to $4.22 billion. “The increase in Activision Blizzard’s GAAP outlook for 2014 is a result of the company’s actual Q1 GAAP performance (which was higher than its prior Q1 GAAP outlook for the reasons cited on the first page of this press release), as well as the company’s current expectations for the remainder of the year.”
The rise in revenue has been attributed to better then expected results from Brlizzard franchises like World of Warcraft, Diablo, and Hearthstone, as well as Activision’s two juggernaut franchises Call of Duty and Skylanders. This strong performance is expected to continue as the year goes on, especially in September with the launch of Destiny, which allegedly costs $500 million dollars.
“We have a strong product pipeline for the balance of the year, beginning with the September 9th
planned launch of Destiny, which we believe could become our next billion
dollar franchise and the largest new videogame IP launch in history. Activision Publishing also recently announced that Skylanders: Trap Team and Call of Duty: Advanced Warfare are expected to be released on October 5 and November 4, respectively. In addition to plans for new content for Hearthstone: Heroes of Warcraft and the release of Diablo III: Ultimate Evil Edition™ on console later this year, Blizzard Entertainment expects to launch World of Warcraft: Warlords of Draenor™, which is already one of the fastest selling expansions in the franchise’s history based on pre-sales, in the second half of 2014.”
Destiny’s beta was revealed to be launching this June as well, and will be coming to the PS4 and PS3 first.
by, Bobby Marquardt