Activision Blizzard Announces Better-Than-Expected Fourth Quarter And Calendar Year 2013 Results

Activision Blizzard, Inc. (Nasdaq: ATVI) today announced better-than-expected financial results for the fourth quarter and calendar year 2013.
 
  Fourth Quarter   Calendar Year
    Prior        
(in millions, except EPS)   2013     Outlook*     2012   2013     2012

GAAP
Net Revenues $ 1,518 $ 1,255 $ 1,768 $ 4,583 $ 4,856
EPS   $ 0.22     $ 0.05     $ 0.31   $ 0.95     $ 1.01

Non-GAAP
Net Revenues $ 2,272 $ 2,215 $ 2,595 $ 4,342 $ 4,987

EPS
 

$

0.79
   

$

0.72
   

$

0.78
 

$

0.94
   

$

1.18

 
*Prior outlook was provided by the company on November 6, 2013 in its earnings release
 

For calendar year 2013, Activision Blizzard delivered GAAP net revenues of $4.58 billion, as compared with $4.86 billion for 2012. On a non-GAAP basis, the company’s net revenues were $4.34 billion, as compared with $4.99 billion for 2012. For the calendar year 2013, GAAP net revenues from digital channels were $1.56 billion and represented 34% of the company’s total revenues. On a non-GAAP-basis, for the calendar year 2013, net revenues from digital channels were $1.57 billion and represented a record 36% of the company’s total net revenues.

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