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Thursday, November 05, 2009

Activision Swings To Profit For Third Quarter

By Dan Gallagher

MarketWatch Pulse

SAN FRANCISCO -- Activision Blizzard Inc. swung to a profit for the third quarter, thanks to a reduction in costs and strong sales of popular video game titles such as "Guitar Hero 5." For the third quarter, Activision reported net income of $15 million, or 1 cent per share, compared to net loss of $108 million, or 8 cents a share, for the same period the previous year. Excluding certain charges, the company said it would have earned 4 cents a share for the recent quarter. Net revenue dipped 1% to $703 million. Excluding revenue that was deferred from the sale of certain games, the company said revenue for the period would have been $755 million. Analysts were expecting earnings of 4 cents a share on revenue of $724 million, according to consensus forecasts from Thomson Reuters.

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