Activision Blizzard loses $108m in Q209, plans to repurchase $1 billion in stock
As part of its September quarter fiscal results, Activision Blizzard has announced that it has "authorized a stock repurchase program under which the company can repurchase up to $1 billion of the company's common stock." The company's stock price has been in decline since September (and has taken a noticeable hit today, too). While the motivations aren't known, it is likely in part to increase the earnings per share. Don't feel too bad for A.B., though. After all, Wrath of the Lich King is just around the corner.
Reader Comments (Page 1 of 1)
OMGOMG @ Nov 5th 2008 5:36PM
And that's why you don't make 7 Guitar Hero games each year.
CTC XBL-supapaypamawio PSN-ctclaw @ Nov 5th 2008 5:43PM
Seeing as how 2 of their top games were from the Guitar Hero series your comment doesn't really apply.
Lionbacker @ Nov 5th 2008 5:39PM
Hey guys, watch me do a redninja impression:
FIRST
You see, the reason that worked, was that saying "FIRST" is the only thing he does. The real thing is, that by saying that, I failed really, really hard. This is at least the second post.
Gehodra @ Nov 5th 2008 6:21PM
...
Shagittarius @ Nov 5th 2008 5:41PM
Buy buy buy!
BananaBoat @ Nov 5th 2008 5:42PM
Know how to make a profit...?
RELEASE DIABLO III F***ERS!!!!!!!!!!
...please?
seniorgato @ Nov 5th 2008 5:43PM
They actually exceeded expectations earning 7c per share as opposed to 4c per share. Of course that is not including the merger costs.
If they lost 108 million and the merger cost 188 million, I'm calling that a win.
Also, most stocks have been in decline since September. It's a recession.
Ben M. @ Nov 5th 2008 5:48PM
how about BlizzardVision??? yes? no? maybe? ok ill shut up now
Kael @ Nov 5th 2008 5:54PM
Q2 09? Blogs report stuff so fast now, we're getting news from the future.
SSG Monty @ Nov 5th 2008 5:55PM
You beat me to the punch. I thought journalism was hitting an all time low, but now I see that they're just so far ahead of me.
Danny F. @ Nov 5th 2008 6:25PM
Was thinking the same thing... I figured it had to be true though.... Blizzard's parent company losing money?!!? Losses?!?! IMPOSSIBLE!!! WEEAAAGGHGH...**HEAD EXPLODES**
Haggard @ Nov 5th 2008 6:25PM
Isn't it worked out in financial years or something? So that Q2 is actually summer of the previous year or something.
Vcize @ Nov 5th 2008 6:45PM
Say it with me now....FISCAL year.
Now, prepare to repeat it every single time a finance related thread comes up, and get ready for the real world.
Zsavior @ Nov 5th 2008 6:21PM
And that is why blizzard is rushing Wrath of the Lich king out buggy servers poor balance and all.
dark_inchworm @ Nov 5th 2008 7:29PM
"Rushing" out? They once discussed plans to release an expansion yearly, and while you could say that BC was released last year, in a measure of months it was nearly two years ago. And we've known about WotLK for quite some time... it spent a while in beta...
Thanks for trying your hand at being clever. Come back when you have good material.
Joeshie @ Nov 5th 2008 6:21PM
I'm glad they lost money. Activision is about the biggest of the greedy corporate whores in the video game industry and Blizzard seems to be following suit with some of their more recent decisions.
Rudolphe @ Nov 5th 2008 8:12PM
jealousy killed the cat
Chase @ Nov 5th 2008 6:26PM
That's a lot of hookers.
Shagittarius @ Nov 5th 2008 6:58PM
That's a lot of blow!
Chase @ Nov 5th 2008 7:06PM
Don't worry. Today's hookers wear a rubber mouthpiece so the blowing doesn't give them the worn Hooker Mouth.
asdf @ Nov 5th 2008 8:25PM
"Notwithstanding this month’s anticipated decline, we believe that the video game software sector remains highly recession-resistant," - Pachter
EA - lost $309M in Q2 09.
Activision - lost $108M in Q2 09.
THQ - lost $115M in Q2 09.
Midway - lost $34.8M in Q2 09.
Highly recession-resistant? I think not.
FSK405K @ Nov 5th 2008 8:28PM
Their Q2 '09 didn't include a WoW expansion; they'll do much better in their next quarter.
KarlW @ Nov 5th 2008 9:01PM
If they lost $108M, of which $188M was down to the merger, they actually made a $80M profit from trading. Of course, net, it's a loss because those profits and more were eaten up by the merger. Still, it's not like the merger will eat another $188M next quarter.