Activision Blizzard President Bobby Kotick says that while his company had a firm start to the year, he fears there are dangers and uncertainties that plague the second half of 2013. Among other things, Kotick blames the “disappointing launch” of the Wii U console and the ambiguity regarding next-generation hardware.
“While we have had a solid start to the year, we now believe that the risks and uncertainties in the back half of 2013 are more challenging than our earlier view, especially in the holiday quarter. The shift in release dates of competing products, the disappointing launch of the Wii U™, uncertainties regarding next-generation hardware, and subscriber declines in our World of Warcraft business all raise concerns, as do continued challenges in the global economy. For these reasons, we remain cautious. However, our focused and disciplined approach to our business has served us well in the past, and through continued investment and careful management of our costs, we expect to continue delivering shareholder value over the long term as we have for the last 20 years.”
-Bobby Kotick, Chief Executive Officer, Activision Blizzard