Activision Blizzard Annual Report
aInnovation Drives Growth
2011 ANNUAL REPORT
Generating Another Record Year
1.6B 30.3% $ 0.165 $ 0.93 50M
$
(1) (2)
record revenue from digital channels (1)
record oPerating margin (2)
record dividend increased 10% in 2011
record earnings Per share (2)
record online monthlY active users in dec. 2011
Represents Non-GAAP revenues from subscriptions and memberships, licensing royalties, value-added services, downloadable content, digitally distributed products, and wireless devices. For a full reconciliation see tables at the end of the annual report. Non-GAAP—for a full reconciliation see tables at the end of the annual report.
activision blizzar d, inc.
Consistently Providing Innovative Entertainment Experiences
Best selling video game ever in a single Year 2011.
activision PuBlishing’s largest new iP launch ever.
#1 suBscriPtion Based mmorPg as of 12/31/11.
one of the fastest growing Premium online services ever created.
page one
activision blizzar d, inc.
Innovation Drove Record Earnings Per Share
$0.92 $0.79 $0.69
$0.93
16%
CAGR 2009–2011
220%
CAGR 2009–2011
$0.33
$0.09
2009
2010
2011
2009
2010
2011
— GAAP EArninGs PEr shArE —
DiluteD
— nOn-GAAP EArninGs PEr shArE (1) —
DiluteD
Non-GAAP—for a full reconciliation see tables at the end of the annual report.
(1)
page thr ee
ACtIvISION BlIzzAR D, INC.
Innovation Expanded Operating Margins to a New Record
27.9% 25.8%
30.3% 28.5%
bAsis POiNT iNCREAsE
450
bAsis POiNT iNCREAsE
2,850
10.5%
(0.6%)
2009 2010 2011 2009 2010 2011
— GAAP OPErAtinG MArGins —
— nOn-GAAP OPErAtinG MArGins (1) —
(1) Non-GAAP—for a full reconciliation see tables at the end of the annual report.
page fi v e
ACtIvISION BlIzzAR D, INC.
Innovation Delivered Record Digital Revenues
34% 32% 29% 27% 32%
35%
$
1.64 biLLiON $
1.56 biLLiON 2009
2010
2011
2009
2011 ANNUAL REPORT
Generating Another Record Year
1.6B 30.3% $ 0.165 $ 0.93 50M
$
(1) (2)
record revenue from digital channels (1)
record oPerating margin (2)
record dividend increased 10% in 2011
record earnings Per share (2)
record online monthlY active users in dec. 2011
Represents Non-GAAP revenues from subscriptions and memberships, licensing royalties, value-added services, downloadable content, digitally distributed products, and wireless devices. For a full reconciliation see tables at the end of the annual report. Non-GAAP—for a full reconciliation see tables at the end of the annual report.
activision blizzar d, inc.
Consistently Providing Innovative Entertainment Experiences
Best selling video game ever in a single Year 2011.
activision PuBlishing’s largest new iP launch ever.
#1 suBscriPtion Based mmorPg as of 12/31/11.
one of the fastest growing Premium online services ever created.
page one
activision blizzar d, inc.
Innovation Drove Record Earnings Per Share
$0.92 $0.79 $0.69
$0.93
16%
CAGR 2009–2011
220%
CAGR 2009–2011
$0.33
$0.09
2009
2010
2011
2009
2010
2011
— GAAP EArninGs PEr shArE —
DiluteD
— nOn-GAAP EArninGs PEr shArE (1) —
DiluteD
Non-GAAP—for a full reconciliation see tables at the end of the annual report.
(1)
page thr ee
ACtIvISION BlIzzAR D, INC.
Innovation Expanded Operating Margins to a New Record
27.9% 25.8%
30.3% 28.5%
bAsis POiNT iNCREAsE
450
bAsis POiNT iNCREAsE
2,850
10.5%
(0.6%)
2009 2010 2011 2009 2010 2011
— GAAP OPErAtinG MArGins —
— nOn-GAAP OPErAtinG MArGins (1) —
(1) Non-GAAP—for a full reconciliation see tables at the end of the annual report.
page fi v e
ACtIvISION BlIzzAR D, INC.
Innovation Delivered Record Digital Revenues
34% 32% 29% 27% 32%
35%
$
1.64 biLLiON $
1.56 biLLiON 2009
2010
2011
2009