Activision does better than expected in Q3, $691 million in net revenue
Activision earned $691 million in net revenue in Q3 2013, down from $841 million in last year's quarter but above expectations of $635 million, the company reported today.
Activision attributes its net revenue to sales of Skylanders: Giants and Call of Duty: Black Ops 2. World of Warcraft is still the No. 1 MMO in the world, now with 7.6 million subscribers, down 100,000 from Q2.
Activision now has a debt of $4.75 billion, following the buyout of its own stock from former parent company Vivendi. That deal, worth $8.2 billion, was expected to be completed within Q3, which ends on September 30, but it was held up in court and instead closed on October 11. Activision notes that it borrowed $2.5 billion in a seven-year secured term loan on October 11 and spent $5.83 billion in cash buying itself back.
Activision launched Call of Duty: Ghosts this week and today reported sales to retailers of $1 billion.
