Activision Blizzard announced unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue was €1,003 million against €894 million a year ago. EBITA was €442 million against €395 million a year ago. The company announced with better than expected first quarter 2013 earnings, the EBITA outlook for 2013 in IFRS is upgraded to around $1.15 billion.

Vivendi Société Anonyme (ENXTPA:VIV) is considering potential deals to sell some of its 60% stake in Activision Blizzard, Inc. (NasdaqGS:ATVI).After reporting a sharp decline in profit, Vivendi's Chief Financial Officer, Philippe Capron, said its Board is considering "a variety of options" for Activision Blizzard. "The board continues to review a variety of different options, looking at ways to optimize the balance sheet," Mr. Philippe Capron told analysts who were asking him about the fate of Activision Blizzard on a conference call. "There is a process going at the board level," he added.

Activision Blizzard, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter ended March 31, 2013, the company’s GAAP net revenues were $1.32 billion, as compared with $1.17 billion for the first quarter of 2012. On a non-GAAP basis, the company's net revenues were $804 million, as compared with $587 million for the first quarter of 2012. Net income was $456 million against $384 million for the comparable period last year. For the quarter ended March 31, 2013, GAAP earnings per diluted share were $0.40, as compared with $0.33 for the first quarter of 2012. On a non-GAAP basis, the company's earnings per diluted share were $0.17, as compared with $0.06 for the first quarter of 2012. Operating income was $587 million against $513 million for the same period last year. Income before income tax expense was $589 million against $514 million of prior year period. The company generated operating cash flow of $325 million and free cash flow of $308 million. The company provided earnings guidance for the second quarter ending June 30, 2013 and revised earnings guidance for the full year ending December 31, 2013. For the quarter, the company expects GAAP $0.21 earnings per share on net revenues of $980 million. On Non GAAP basis, the company expects $0.05 earnings per share on net revenues of $590 million. For the year, the company expects GAAP $0.73 earnings per share on net revenues of $4,220 million against prior guidance of $0.68 earnings per share on net revenues of $4,085 million. On Non GAAP basis, the company expects $0.82 earnings per share on net revenues of $4,250 million against prior guidance of $0.80 earnings per share on net revenues of $4,175 million.

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