UPDATE: Activision Beats The Street, Guidance Lousy*


Hopes were running high Activision Blizzard (ATVI) would buck the trend of major gaming companies doing poorly, and the company pulled it off is warning investors of a tough 2009.

Key Stats via Reuters:

  • Q4 Adj Revenue: $2.34 bln vs Street view $2.15 bln
  • Q4 EPS: $0.31 EPS vs $0.29 EPS consensus
  • 2009 adjusted EPS 61 cents versus Street hopes of 67 cents

Attribute the Activision numbers to strong sales in the “Guitar Hero” and “Call of Duty” franchises.

The Activision call is now running 26 minutes late, more as we hear more.

UPDATE: Sorry folks, but Activision issued their official earnings half an hour late after multiple apologies, and the Reuters report we pulled our numbers from updated from “Activision tops” to “Activision misses”.

We’re reviewing the numbers now, but despite a good Q4, Activision is slashing its guidance going forwards, with EPS of 61 cents vs analyst estimates of 67 cents.

Shares in ATVI were down 5.1% after hours on the news.