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In an August 5 release, Activision Blizzard said that for the quarter ended June 30, Activision Blizzard's GAAP net revenues were $1,038 million, and its non-GAAP net revenues were $801 million. The company's prior GAAP net revenue outlook for the quarter was $1 billion. On a non-GAAP basis, the company's net revenue outlook was $775 million.
For the quarter ended June 30, Activision Blizzard's GAAP earnings per diluted share was $0.15, and the company's non-GAAP earnings per diluted share was $0.08. The company's prior GAAP earnings per diluted share outlook was $0.10. On a non-GAAP basis, the company's earnings per diluted share outlook was $0.06.
The company reports results on both a GAAP and a non-GAAP basis. Please refer to the tables at the back of this press release for a reconciliation of the company's GAAP and non-GAAP results.
For the third quarter of calendar year 2009, Activision Publishing expects to release Guitar Hero 5 for the Xbox 360 video game and entertainment system from Microsoft, PlayStation 3 computer entertainment system from Sony, Wii home video game system from Nintendo, and PlayStation 2 computer entertainment system from Sony; Marvel: Ultimate Alliance 2 for the Xbox 360 video game and entertainment system from Microsoft, Playstation3 computer entertainment system from Sony, Wii home video game system from Nintendo, PlayStation 2 computer entertainment system from Sony, PSP (PlayStation Portable) system and the Nintendo DS; and Wolfenstein for the Xbox 360 video game and entertainment system from Microsoft, Playstation3 computer entertainment system from Sony and PC.
Additionally, Activision Publishing has moved the anticipated release date for Raven's upcoming sci-fi first-person action title, Singularity, from 2009 to the first quarter of 2010.
For calendar 2009, as a result of moving the anticipated releases of Activision Publishing's Singularity and Blizzard Entertainment's StarCraft II into 2010 and lower market expectations, Activision Blizzard is adjusting its outlook for GAAP net revenues from $4.3 billion to $4.05 billion, and its outlook for non-GAAP net revenues from $4.8 billion to $4.5 billion.
The company is increasing its GAAP earnings per diluted share outlook to $0.26 from $0.24, and re-affirming its non-GAAP earnings per diluted share outlook of $0.63, as the company expects that lower revenues will be offset in part by the stronger-than-expected performance of a few of its higher margin titles, as well as online revenues, better than expected synergy savings, and a lower effective tax rate. Additionally, the company's expected GAAP earnings per diluted share outlook increased by $0.02 primarily due to a decrease in anticipated net deferrals from online-enabled games.
For the third quarter of calendar year 2009, Activision Blizzard expects GAAP net revenues of $680 million, and GAAP loss per diluted share of $0.03. On a non-GAAP basis, the company expects net revenues of $700 million and $0.03 earnings per diluted share for the third quarter.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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