Activision Blizzard Raises CY 2011 Guidance; Issues Q3 2011 Guidance Below Analysts' Estimates

Activision Blizzard announced that it is raising its guidance for calendar year 2011 and expects net revenue $4.05 billion compared to previous guidance of $3.95 billion and earnings per share (EPS) is expected to be $0.77 compared to previous expectation of $0.73. For the third quarter of 2011, it expects revenues of $530 million and EPS of $0.01. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $4.04 billion and EPS of $0.75 for the calendar year 2011; revenue of $535 million for fiscal 2011; revenues of $632 million and EPS of $0.08 for the third quarter of 2011.