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Activision Q2 Report Better Than Expected, Still Down From '06

| 2 Oct 2006 12:53

Activision, gaming's second largest publisher, today announced its Q2 fiscal year earnings report, beating analyst expectation despite a drop from FY '06.

Revised predictions for the '07 fiscal year puts Activision on track, according company figures, to bring in $1.15 billion in revenue, up from earlier expectations of $1.08 billion. Analyst expectations aren't quite as positive forecasting $1.09 billion for the year. By comparison, the number one publisher, Electronic Arts, expects to generate nearly $3 billion for the year.

According to an Activision press release, net revenues for the second quarter ended September 30, 2006 were $188.2 million, a 45% increase over the company's prior outlook of $130.0 million. That number, however, is down from the company's $222.5 million over the same period last year.

The large increase on the quarter against predictions drove Activison's stock up over %7 in after hours trading on Wednesday.

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