Activision announces robust financials.
Longstanding software developer Activision recently announced that its third quarter earnings significantly exceeded industry forecasts. As a result, Activision's earning projections have been considerably bolstered. The company's net revenues for the quarter totaled $264.5 million. The third quarter of the previous fiscal year saw Activision's net revenues amount to an equally impressive $269.9 million. The company cited its conservative stance concerning PlayStation 2 software and the startling success of blockbuster titles like Tony Hawk's Pro Skater and Spider-Man as the catalysts for the company's fruitful third quarter.
"Sony's shortfall of PlayStation 2 systems has had no impact on our business model, as our conservative planning assumptions were based on having approximately 1 to 1.5 million systems available in the US during the holiday season," explained Robert Kotick, co-chairman and CEO of Activision. "Our first two PlayStation 2 titles, Sky Odyssey and Orphen, have preformed to expectations, and we currently have 17 other PlayStation 2 titlies in various stages of development and production."
Activision, in hopes of maintaining its sturdy performance, has already confirmed support for the Microsoft Xbox. Furthermore, the company has plans to release Tony Hawk's Pro Skater 2X for the controversial platform.
2/2/2001 Bryan Keers