Activision's revenues have dropped 30 percent. Ten titles have been cancelled to compensate...
Activision yesterday reported its fiscal second quarter results. Compared to last year's second quarter, revenue decreased by 31 percent. The company reported a net loss for the quarter of $10.1 million, compared with last year's income of $9.1 million; and revenue for the quarter fell to $117.5 million, from $169 million a year ago.
Ron Doornink, President of Activision said, "We had a light release schedule for the second quarter, however, our main focus for this fiscal year remains our third quarter releases -- Tony Hawk's Underground, True Crime: Streets of L.A., Call of Duty and Empires: Dawn of the Modern World, which represent some of the strongest, most innovative games in our company's history. Overall our competitive position remains strong as we continue to make progress with our quality enhancement initiatives."
Doornink continued saying, "Specifically, we have canceled the development of 10 games, which we believe are unlikely to produce an acceptable level of return on our investment. This will enable us to focus and increase our development and marketing resources on those franchises with the greatest potential. We believe that this realignment will enhance our position to capitalize on the opportunities presented by the growing mass-market."
The titles cancelled are Trinity, Shaun Palmer's Pro Snowboarder 2, and Street Hoops 2 on all platforms
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