Activision loss widens in Q4
NEW YORK -- Video game maker Activision Inc. reported a bigger fiscal fourth-quarter loss Thursday, but increased its revenue projection for its new fiscal year well ahead of Wall Street estimates.
The company posted a quarterly loss of $14.4 million, compared with a loss of $9.1 million in the year-ago period.
Revenue rose 66% to $313 million in line with updated guidance at the beginning of the month, when Activision had boosted its quarterly revenue projection from $200 million thanks to solid sales for popular titles, such as "Guitar Hero" and "Call of Duty 3".
Before the earnings report, Activision shares closed up 1.8% at $19.79. Over the past year, the stock has traded between $10.47 and $21.43.
Earlier this month, Activision shares dropped 7.7% in one day after mixed reviews for its "Spider-Man 3" game.
The company also produced games tied to other big movie releases this summer, including "Shrek 3" and "Transformers".
"Activision's fiscal year 2007 net revenues, which were the highest in the company's history, totaled $1.5 billion, marking 15 consecutive years of revenue growth," said chairman and CEO Robert Kotick in a statement.
The company posted a quarterly loss of $14.4 million, compared with a loss of $9.1 million in the year-ago period.
Revenue rose 66% to $313 million in line with updated guidance at the beginning of the month, when Activision had boosted its quarterly revenue projection from $200 million thanks to solid sales for popular titles, such as "Guitar Hero" and "Call of Duty 3".
Before the earnings report, Activision shares closed up 1.8% at $19.79. Over the past year, the stock has traded between $10.47 and $21.43.
Earlier this month, Activision shares dropped 7.7% in one day after mixed reviews for its "Spider-Man 3" game.
The company also produced games tied to other big movie releases this summer, including "Shrek 3" and "Transformers".
"Activision's fiscal year 2007 net revenues, which were the highest in the company's history, totaled $1.5 billion, marking 15 consecutive years of revenue growth," said chairman and CEO Robert Kotick in a statement.
- 6/1/2007
- The Hollywood Reporter - Movie News
Pricing may lift Activision, game rivals
NEW YORK -- Activision Inc. chairman and CEO Robert Kotick made bullish predictions Tuesday about the game industry as it enters the next-generation console cycle, including launch prices for new-generation console games at $59.99. The pricing should help Activision and its rivals expand margins, he said at Piper Jaffray's 26th annual Consumer Conference. Kotick added that sales of games for hand-held devices, which are cheaper to license and develop than console games, as well as "virtual assets," would help video game makers expand margins during the next cycle. Virtual assets consist of weapons or other digital items purchased online by gamers to increase their power in play. Activision Will Price its virtual asset downloads at about $3 online.
- 6/6/2006
- The Hollywood Reporter - Movie News
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