Activision Blizzard reports better than expected 2011 thanks to MW3, Skylanders

Major publisher Activision Blizzard today reported better than expected financial results for its fiscal fourth quarter, with much of this revenue earned from Call of Duty: Modern Warfare 3, Skylanders, and the company's digital products. For the quarter ended January 31, 2011, Activision brought in $2.41 billion in net revenue, down slightly from the $2.55 billion the company saw during this period last year. This latest quarter puts the company's full year revenues at $4.49 billion, up from $4.48 billion in 2010. The most significant contributor to these figures as Activision's Call of Duty: Modern Warfare 3, which the publisher said was the number one selling title in dollars for 2011. For the full year, Activision also reported that $1.6 billion, or 34 percent of its overall revenue, came from digital sales. Activision said its digital Call of Duty Elite service has seen some particular success, as it has attracted more than 7 million registered users and 1.5 million annual premium subscribers. This quarter, World of Warcraft subscribers dipped slightly, dropping to 10.2 million subscribers, down from 10.3 million last quarter. One of Activision's newest franchises, the toy-based Skylanders, saw incredible growth during 2011, and Activision said the franchise has sold more than 20 million toys worldwide. As the company looks toward the end of its 2012 fiscal year, it estimates that it will earn $4.5 billion. Blizzard Entertainment co-founder Mike Morhaime also confirmed during Activision's investor conference call that the company is expecting a Q2 launch for Diablo III.