Activision Thanks Xbox & GameCubeActivision released their third quarter fiscal results today, marked by better than expected profit. Revenues for the quarter were $371.3 million, up 40% compared with $264.5 million in the same period of 2000. The company also raised guidance for fiscal 2002 and 2003, raising its 2002 revenue to $765 million from $725 million. For 2003, Activision raised its per-share guidance to 94 cents and revenues to $845 million. Shares in the company closed up 1.6% today at $24.80, despite a slump in gaming related stocks in recent weeks.
Robert A. Kotick, Chairman and CEO of Activision, said, "Our record results for the third fiscal quarter once again demonstrate the ability of Activisions diverse product slate and platform mix to deliver top-line growth, increased operating margins and strong cash generation. The combination of better than expected market conditions, strong worldwide consumer demand for our products and the successful U.S. launches of the Xbox from Microsoft and Nintendos GameCube, contributed to these results. We continue to focus on cost controls and operating efficiencies as key drivers of our operating margin expansion initiatives."