Robots in disguise
According to Reuters , "shares in Activision Inc fell 8.6 percent before the market opened on Tuesday after the company said late on Monday quarterly profit fell 30 percent from a year earlier and set targets below Wall Street estimates."
Chairman and CEO of Activision, Robert Kotick said, "We were disappointed with our earnings performance this quarter which was the result of weaker than expected market conditions in the U.S. and Europe due to the transition from current-generation consoles to the next generation of video game systems."
"In the long term, we are planning for market growth that historically follows the introduction of new console hardware. To leverage this future growth and prepare for fiscal 2008, which we expect will be the biggest year in Activision's history, we will continue to focus on investment in our product development resources and intellectual property portfolio, growing our international operations and optimizing our worldwide cost structure and resource allocation," Kotick added.
This follows on from the news that Activision have scrapped plans to bring the PC game, 'The Movies' to console. The game has sold poorly and, with the influx of great games due out over the next six months, it appears to be a very wise move indeed.
As one door closes, another one opens,Activision have now secured the rights to create a game based on upcoming movie, Transformers.
