Activision raises outlook on record results

Activision Inc has announced that it is raising its financial outlook for its fiscal third quarter, ending December 31, and for the financial year as a whole.

This is the result of better than expected revenues to date on its titles, which include Call of Duty 4: Modern Warfare and Guitar Hero III: Legends of Rock.

The statement released by the company revises the Q3 outlook up from USD 1.05 billion to USD 1.23 billion, with a diluted earnings per share moving from USD 0.51 to USD 0.66.

For the full financial year revenues go up from previous expectations of USD 2.07 billion to USD 2.30 billion.

According to NPD figures Activision was the top US publisher in October, increasing its market share to 28.7 per cent.

The company's chairman and CEO, Robert Kotick, said in the statement: "We are well on our way to delivering our 16th consecutive year of revenue growth and the most profitable year in our history.

"We are confident that the third quarter of fiscal 2008 will be the largest and most profitable quarter ever."

As of close yesterday the company's share price was down 2.87 per cent to USD 18.93, although it's expected that the company's revised outlook may affect that when the US markets open later today.