Activision Posts Narrow Q1 Profit

The company reported earnings after taxes and before charges of $29,000, breaking even per share for the period ended June 30, for which analysts were expecting to see a loss of an average of five cents per share. In the same period last year, Activision posted a loss of $5.2 million, or 21 cents per share. Chairman and CEO Bobby Kotick said that, because of the seasonal ups and downs of the game publishing business, this past quarter was Activision's best first quarter in the company's 22-year history. The better-than-expected performance was attributed to sales for the Game Boy Advance as well as Playstation and Playstation 2 platforms. Revenues for the quarter were $110.6 million, up 31 percent from $84.6 million in the same period last year. Based on strong sales so far this year, particularly for Game Boy Advance titles, Activision has raised its projected full-year revenue from $605 million to $620 million.