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Activision Blizzard Financials

Activision Blizzard's First Quarter 2014 Financial Results are public, showing better results than were projected, attributed to "record digital sales in Blizzard Entertainment’s franchises, including World of Warcraft®, Diablo®, and Hearthstone: Heroes of Warcraft." They also have the latest World of Warcraft subscriber count, for those keeping track, saying the MMORPG now has 7.6 million paying subscribers, down around 200,000 since their last report. Here are some numbers to crunch:

For the quarter ended March 31, 2014, Activision Blizzard’s GAAP net revenues were $1.11 billion, as compared with $1.32 billion for the first quarter of 2013. On a non-GAAP basis, the company’s net revenues were $772 million, as compared with $804 million for the first quarter of 2013. For the first quarter, GAAP net revenues from digital channels represented 34% of the company’s total revenues. On a non-GAAP basis, net revenues from digital channels were a record 68%.

For the quarter ended March 31, 2014, Activision Blizzard’s GAAP earnings per diluted share were $0.40, as compared with $0.40 for the first quarter of 2013. On a non-GAAP basis, the company’s earnings per diluted share were a record $0.19, as compared with $0.17 for the first quarter of 2013. Our Q1 GAAP results were higher-than-anticipated due to better-than-expected operating performance in an amount about equal to our non-GAAP over performance and a recently identified forecast miscalculation with regard to deferred revenue recognition in our previous GAAP outlook, which accounted for the balance of the GAAP over delivery.

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