Activision Blizzard, Inc. (ATVI) reported net income for the third quarter of $226 million or $0.20 per share, compared to $148 million or $0.13 per share for the year-ago quarter.
Excluding items, adjusted net income for the third quarter was $168 million or $0.15 per share, compared to $87 million or $0.07 per share in the prior year quarter. Net revenues for the third quarter rose to $841 million from $754 million a year ago. On an adjusted basis, the company's net revenues increased to $751 million from $627 million last year.
Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $709.80 million for the third quarter. Analysts' estimates typically exclude special items.
Looking forward to the fourth quarter, the company forecasts net revenue of $1.485 billion, adjusted net revenue of $2.412 billion, earnings of $0.19 per share and adjusted earnings of $0.70 per share. Analysts currently expect the company to earn $0.67 per share on revenue of $2.34 billion for the fourth quarter.
For the full year 2012, the company now expects net revenue of $4.574 billion, adjusted net revenue of $4.805 billion, earnings of $0.88 per share and adjusted earnings of $1.10 per share. Previously, the company expected net revenue of $4.330 billion, adjusted net revenue of $4.630 billion, earnings of $0.69 per share and adjusted earnings of $0.99 per share.
Analysts currently expect the company to earn $1.01 per share on revenue of $4.68 billion for the full year 2012.
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