Activision Blizzard Announces Better-Than-Expected Third Quarter 2013 Financial Results

Activision Blizzard, Inc. (Nasdaq: ATVI) today announced better-than-expected financial results for the third quarter of 2013.
Third Quarter Nine Months
(in millions, except EPS) 2013   Prior

Outlook*
  2012   2013   2012

GAAP
   
Net Revenues $ 691 $ 635 $ 841 $ 3,065 $ 3,088
EPS $ 0.05   $ 0.03   $ 0.20 $ 0.73 $ 0.70

Non-GAAP
Net Revenues $ 657 $ 585 $ 751 $ 2,070 $ 2,393
EPS $ 0.08   $ 0.03   $ 0.15 $ 0.33 $ 0.40
 

*Prior Outlook was provided by the company in its August 1, 2013 earnings release
 

For the third quarter, which ended September 30, 2013, the company delivered GAAP net revenues of $691 million, as compared with $841 million for the third quarter of 2012. On a non-GAAP basis, the company’s net revenues were $657 million, as compared with $751 million for the third quarter of 2012. GAAP net revenues from digital channels were $409 million and represented a third-quarter record 59% of the company’s total net revenues. On a non-GAAP basis, net revenues from digital channels were $399 million and represented 61% of the quarter’s total net revenues.

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