For the quarter ended June 30, 2012, Activision Blizzard's GAAP net revenues were $1.08 billion, as compared with $1.15 billion for the second quarter of 2011. On a non-GAAP basis, the company's net revenues were $1.05 billion, as compared with $699 million for the second quarter of 2011. For the second quarter, GAAP net revenues from digital channels were $343 million and represented 32% of the company's total revenues. On a non-GAAP basis, net revenues from digital channels were a record $497 million and represented 47% of the company's total revenues.

For the quarter ended June 30, 2012, Activision Blizzard's GAAP earnings per diluted share were $0.16, as compared with $0.29 for the second quarter of 2011. On a non-GAAP basis, the company's earnings per diluted share were $0.20, as compared with $0.10 for the second quarter of 2011.

The company reports results on both a GAAP and a non-GAAP basis. Please refer to the tables at the back of this press release for a reconciliation of the company's GAAP and non-GAAP results.

Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, "On a non-GAAP basis, we delivered record Q2 and first half net revenues, operating income and earnings. Our performance was driven by strong audience demand for our great games. We are very excited to have announced our expanded investment in China through Activision Publishing's agreement with Tencent to bring the Call of Duty® franchise to the Chinese market."

Kotick continued, "For the first six months, we had the top three best-selling games in North America and Europe with Activision Publishing's Skylanders Spyro's Adventures® and Call of Duty: Modern Warfare® 3, and Blizzard Entertainment's record setting Diablo® III."

"For the remainder of the year, we are excited about our product slate which includes Activision Publishing's Skylanders Giants™ and Call of Duty: Black Ops II, and Blizzard Entertainment's World of Warcraft®: Mists of Pandaria™. While we are increasing our financial outlook for full year 2012, we remain cautious given economic uncertainty, risks to consumer spending especially during the holiday season and the recognition that the majority of our key franchise launches are still ahead of us," Kotick added.