Activision Posts Solid Q2, Raises Guidance For Remainder Of Year

The company's net revenues for the quarter were $139.6 million, down from $144.4 million last year. The company's profits were also off of last year's results, down 47% to $2.2 million (6 cents per share). However, Activision's results exceeded what most analysts had predicted, and the company raised guidance for the year-end quarter and predicted continued strong sales. The titles that the company cited as its strong performers include Tony Hawk's Pro Skater 2, Mat Hoffman's Pro BMX, and World's Scariest Police Chases for the PlayStation, Tony Hawk's Pro Skater 2, Spider-Man: Mysterio's Menance, X-Men: Reign of Apocalypse and Bomberman Tournament for the Game Boy Advance and Tony Hawk's Pro Skater 2 for the Nintendo 64. Ron Doornink, Activision's president and COO, explained that the company's sales were off 10% in the week after the September 11 terrorist attacks, but had since rebounded and were now up 10% compared to the same period prior to September 11. Activision shares are up over 130% since the beginning of the year. Activision also announced it would release its upcoming title, Spider Man 2 Enter: Electro, this week. The game had been delayed due to the terrorist attack and the fact that some of the game takes place around skyscrapers in New York City.