Activision Blizzard Management Discusses Q2 2012 Results - Earnings Call Transcript

Activision Blizzard (ATVI)

Q2 2012 Earnings Call

August 02, 2012 4:30 pm ET

Executives

Kristin Mulvihill Southey - Former Vice President of Investor Relations

Robert A. Kotick - Chief Executive Officer, President and Director

Dennis Durkin - Chief Financial Officer

Eric Hirshberg - Chief Executive Officer of Publishing Unit

Michael Morhaime - Chief Executive Officer of Blizzard Entertainment and President Blizzard Entertainment

Analysts

James Hardiman - Longbow Research LLC

Colin A. Sebastian - Robert W. Baird & Co. Incorporated, Research Division

Douglas Creutz - Cowen and Company, LLC, Research Division

Daniel Ernst - Hudson Square Research, Inc.

Eric O. Handler - MKM Partners LLC, Research Division

Edward S. Williams - BMO Capital Markets U.S.

Brian Karimzad - Goldman Sachs Group Inc., Research Division

Presentation

Operator

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Ladies and gentlemen, good day. Welcome to Activision Blizzard's Q2 2012 Results Conference Call. Please note today's conference is being recorded. At this time, for opening remarks and introductions, I would like to turn today's call over to Ms. Kristin Southey. Please go ahead.

Kristin Mulvihill Southey

Good afternoon, and thank you for joining us today for Activision Blizzard's Second Quarter 2012 Conference Call. With me today are Bobby Kotick, CEO of Activision Blizzard; Thomas Tippl, COO of Activision Blizzard; Dennis Durkin, CFO of Activision Blizzard; Eric Hirshberg, CEO of Activision Publishing; and Mike Morhaime, CEO of Blizzard Entertainment.

I would like to remind everyone that during this call, we will be making statements that are not historical facts. These are forward-looking statements and based on current expectations and assumptions that are subject to risks and uncertainties. As indicated in the slide that is showing, a number of important factors could cause the company's actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements. Such factors include, without limitation, sales levels; the increasing concentration of titles; shifts in consumer spending trends; current macroeconomic and industry conditions and conditions within the video game industry; our ability to predict consumer preferences among competing genres and hardware platforms; the seasonal and cyclical nature of our industry; changing business models, including digital delivery of content; competition, including from used games; possible declines in pricing; product returns; price protection; product delays; adoption rate and availability of new hardware and related software; rapid changes in technology and industry standards; litigation and associated costs; protection of proprietary rights; maintenance of key relationships, including the ability to attract, retain and develop key personnel and developers that can create high-quality hit titles; counterparty risks; economic, financial and political conditions and policies; foreign exchange and tax rates; identification of acquisition opportunities; and potential challenges associated with geographic expansion.

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