Acti Blizz revenues up 26% for 2008, income up 21% [UPDATE]

Wednesday, 11 February 2009 21:52 GMT By Patrick Garratt


Update – The press release just went out.

Acti Blizz boss Bobby Kotick just confirmed net revenues for 2008 of $5 billion.

Income for the year was $1.2 billion, said the exec.

Acti Blizz did, however, swing to a net loss for the quarter ending December 31, reporting a net loss of $72 million, or 5 cents a share, compared to earnings of $86 million, or 15 cents a share, for the same period last year.

The company ended the year with more than $3 billion in cash.

“Our solid balance sheet distinguishes us from the competition,” said Kotick, who added the firm is expecting another year of growth in 2009.

The news came as part of Activision’s fourth quarter earnings call.

The full earnings statement has yet to cross the wires, but we’re expecting it any minute.

More soon.