Activision Blizzard announced better than expected financial results for the first quarter of the year 2010. For the quarter that ended on the 31st of March, 2010, Activision Blizzard's GAAP net revenues were one point three billion USD, with its non-GAAP net revenues 714 million USD.
For the quarter that ended on the 31st of March, 2010, Activision Blizzard reported that the GAAP earnings per diluted share were 0.30 USD, and that the company's non-GAAP earning per diluted share were 0.09 USD.
CEO of Activision Blizzard, Bobby Kotick, explained that their better-than-expected first quarter performance was driven by strong global consumer demand for Activision's Call of Duty and Blizzard Entertainment's World of Warcraft. He also stated that Activision's Call of Duty: Modern Warfare 2 was the number one title overall in the United States and the Europe for the quarter, which illustrates the continued momentum of their catalogue. Bobby Kotick also said that additionally, during the quarter, Activision launched DreamWorks' How To Train Your Dragon and the Call of Duty: Modern Warfare 2 Stimulus Package, which shattered Xbox LIVE records with more than one million package downloads in the first twenty four hours of release.
Bobby Kotick continued to explain that throughout the remainder of the year they plan to release their strongest video game lineup ever based on some of the industry's highest quality profitable franchises. He explained that they expect to deliver record calendar year non-GAAP net earnings and expanded non-GAAP operating margins. Kotick also explained that in addition, they continue to strengthen their franchise portfolio and development resources for the future, and that their high-quality brands, industry leading operational capabilities and solid balance sheet should enable them to take full advantage of the opportunities afforded by the expanding interactive entertainment market and allow them to deliver continued superior returns to their shareholders.
Bobby Kotick also stated that as of 31st March, 2010, they have delivered compound shareholder returns of 28% compared to the S & P average of -2% over a ten year period, and that they continue to find ways to add profitable franchises that allow them to increase their operating margins. Kotick also added that in this regard they recently announced a ten-year alliance with Bungie, one of the premier studios in their industry. Finally, Kotick added that this relationship will allow Activision to broaden its product portfolio with new exciting games and underscore their commitment to partnering with the best creative talent in the industry.