Activision reported a wider fourth quarter loss that missed analysts' expectations but the second U.S. video game publisher raised its revenue forecast based on a promising slate of upcoming games like Guitar Hero 3 and Transformers.
Activision's profit forecast was lower than expected, due mainly to acquisition costs and legal fees associated with its investigation into stock option accounting practices. But analysts focused on revenue. Net revenues for the fiscal year ended March 31, 2007 were $1.51 billion, as compared to $1.47 billion for the fiscal year ended March 31, 2006. Below is the press release with the announcement: