Activision Blizzard reports higher Q4 net income, provides outlook for Q1

Activision Blizzard, Inc., an online, PC, console, handheld and mobile game publisher, has reported that net income for the fourth quarter ended December 31, 2012 was $354 million, or $0.31 per diluted share, compared to $99 million, or $0.08 per diluted share, for the same quarter ended December 31, 2011. The company expects GAAP net revenues of $1.16 billion and earnings per share of $0.29 for the first quarter of 2013.

Total net revenues for the fourth quarter ended December 31, 2012 were $1.77 billion, compared to $1.41 billion for the same quarter ended December 31, 2011.

Net loss for the year ended December 31, 2012 was $1.15 billion, or $1.01 per diluted share, compared to $1.08 billion, or $0.92 per diluted share, for the year ended December 31, 2011.

Total net revenues for the year ended December 31, 2012 were $4.86 billion, compared to $4.75 billion for the year ended December 31, 2011.

For 2013, the company expects GAAP net revenues of $4.08 billion and earnings per share of $0.68.

Bobby Kotick, CEO, Activision Blizzard, said, "We are very pleased to report that Activision Blizzard delivered the best performance in its history. With better than expected net revenues, record operating margins and record earnings, and over $1.3 billion in operating cash flow, we continue to set the industry success bar. I would like to thank our incredibly talented employees around the world for their passion, drive and creativity, which continues to fuel our success."