Activision Raises Guidance For Q1, Fiscal 2003

For the fiscal first quarter ending June 30, 2002, Activision expects earnings per share of 18 cents, on net revenues of $165 million -- up $55 million over last year. For the fiscal year ending March 31, 2003, Activision expects earnings per share of $1.10 on net revenues of $890 million. Despite the announcement, Activision shares fell 23 cents today, as stocks across all U.S. markets were hammered by flagging investor confidence in corporate management.