Activision Blizzard kicks off 2013 with solid quarterly earnings

Activision Blizzard has announced financial results for the first quarter of 2013.

Net revenues were $1.32 billion, as compared with $1.17 billion for the first quarter of 2012. For the first quarter, net revenues from digital channels represented 28% of the company’s total revenues.

Bobby Kotick, Chief Executive Officer, stated: “While we have had a solid start to the year, we now believe that the risks and uncertainties in the back half of 2013 are more challenging than our earlier view, especially in the holiday quarter. The shift in release dates of competing products, the disappointing launch of the Wii U, uncertainties regarding next-generation hardware, and subscriber declines in our World of Warcraft business all raise concerns, as do continued challenges in the global economy. For these reasons, we remain cautious.”

For the first quarter, Blizzard Entertainment had two top-10 PC titles in both North America and Europe with StarCraft II: Heart of the Swarm and Diablo III. In both North America and Europe, including accessory packs and figures, Activision Publishing’s Skylanders Giants was the #1 best-selling game overall in dollars for the first quarter of 2013; Call of Duty: Black Ops II was the #2.

Two months ago, Blizzard Entertainment announced that it will release Diablo III for the Sony PlayStation 3 computer entertainment system later this year. Blizzard also plans to adapt the game for the Sony PlayStation 4.

Last week, Activision Publishing announced that it will release its new Call of Duty game, Call of Duty: Ghosts, on November 5, 2013.

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