Activision Blizzard closes out Q1 2013 with $1.32 billion net revenue

The first quarter of Activision Blizzard's fiscal 2013 has come to a close, with the massive developer/publisher reporting $1.324 billion in net revenue for the three months ending March 31, 2013. This figure is $164 million beyond Activision Blizzard's prediction for the quarter ($1.16 billion), and 12.96 percent more than the $1.172 billion earned during the same period last year.

"The shift in release dates of competing products, the disappointing launch of the Wii U, uncertainties regarding next-generation hardware, and subscriber declines in our World of Warcraft business all raise concerns, as do continued challenges in the global economy," CEO Bobby Kotick said in the report. "For these reasons, we remain cautious."

Despite this, Activision Blizzard is raising its net revenue outlook for calendar year 2013 by 3.3 percent, from $4.085 billion to $4.22 billion. Kotick attributed the company's successful quarter to Starcraft 2: Heart of the Swarm and World of Warcraft, as well as continued consumer interest in Call of Duty and Skylanders.

This article was originally published on Joystiq.