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Video Game Maker Activision Reports Loss

California and the West | EARNINGS ROUNDUP

November 03, 2005|From Bloomberg News

Video game maker Activision Inc. reported a fiscal second-quarter loss of $13.2 million as the company's offerings failed to match the success of last year's "Spider-Man."

The net loss of 5 cents a share contrasted with net income of $25.5 million, or 9 cents a share, a year earlier, the Santa Monica-based company said. Revenue fell 28% to $222.5 million in the quarter ended Sept. 30.

Activision failed to introduce any titles that ranked among the 10 top sellers tracked by market researcher NPD Group Inc. Activision is spending more to develop new titles, including shooting games "Gun" and "Quake 4," for Microsoft Corp.'s Xbox 360, to be released Nov. 22.

Shares of Activision rose 62 cents to $16.81 in regular trading. They fell to $16.27 after hours.

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