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    Zynga on Tuesday said Chief Creative Officer Mike Verdu has left the San Francisco social gaming company. Verdu's announcement follows a string of high level executive departures in recent months as the social gaming giant struggles to keep up its once torrid pace of revenue and audience growth. Others who have left Zynga include John Schappert, its former chief operating officer, and Alan Patmore, who was the general manager of one of Zynga's top games, "CityVille. " In addition, Erik Bethke, who was general manager of "Mafia Wars 2," Ya Bing Chu, vice president in Zynga's mobile division, and Jeremy Strauser, a general manager who oversaw development studios responsible for "Zynga Bingo" and several other casino games, also left this summer, according to Bloomberg . Zynga did not comment on the status of Strauser, Bethke or Chu. By contrast, Kixeye's crosstown rival, Zynga, has 284 million. That makes Zynga the largest game publisher on Facebook, while Kixeye is much further down the list at No. 66. Kabam's approach since its founding in 2006 has been to differentiate itself from Zynga, which develops more casual games designed to appeal to a mass audience, by targetting a narrow audience of players who are into role playing games such as "World of Warcraft" or "EverQuest. Facebook on Tuesday shot back at Zynga, saying the number of people playing games on the social network on a monthly basis grew 8% in the first six months of this year. The figure directly contradicted Zynga's contention in July that the number of players on Facebook shrank 16% between April 1 and June 30. down; Sorkin fibs?
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    What trends do you currently see in China's gaming industry? The gaming market is still growing and locally developed games will continue to grow, not just imported games from Europe and other Western companies. Local companies have a slight advantage because we can modify games according to consumer need based on our understanding of Chinese culture. We can offer more culture specific in game events.

    Foreign game companies such as Ubisoft and Electronic Arts have recently opened offices here in Shanghai and around China. What are your thoughts about this and the growing involvement of China in the global gaming market? They see a potentially huge gaming market in China, which has developed very quickly. Casual games might be the next hot area so they will try to adapt these to the Chinese market.

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    Describes himself as 'quite tolerant on most issues' and claims 'I am not in fact a racist and have never been'Contacted the English Defence League to discuss 'tactics'

    The man who reportedly shot dead at least 85 people at a youth camp and killed another seven with a car bomb in the Norwegian capital of Oslo, released a YouTube video calling for conservatives to 'embrace martyrdom' six hours before the attacks, it has emerged.

    Anders Behring posted the video promoting a fight against Islam, which shows pictures of him wearing a wetsuit and pointing an automatic weapon, hours before he set out on the devastating killing spree.

    In a text with the video he detailed his plans for the attacks, writing that he would 'dress up as a police officer', adding that it would 'be awesome as people will be astonished'.

    Manifesto of terror: Anders Behring poses in a wetsuit holding an automatic weapon in a YouTube video posted six hours before the deadly attacks

    Attacks: set out how to make bombs from fertilisers and how to receive them in large quantities by setting up an agricultural company

    In the disturbing 1,500 page dossier, he wrote that 'there are situations where cruelty is necessary' and that it is better to kill too many than not enough'.

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    had confessed to posting the video setting out his extremist

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    was a member of the Masonic lodge in Oslo and had links to the English Defence League.

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    Police chief Roger Andersen said: 'What we know is that he is right wing and a ChristianThe 12 minute video, called 'Knights Templar 2083', also reportedly appeared on 's now closed Facebook page.

    The page cites philosophers like Machiavelli, Immanuel Kant and John Stuart Mill.

    In the accompanying document, which he set out as a manifesto for 'conservative revolution', he described how to make bombs from fertilisers and how to receive them in large quantities by setting up an agricultural company.

    In May, he had six tonnes of fertiliser delivered to the remote farm he owned, 80 miles north of Oslo.

    The manifesto describes his experiments with explosives and his first successful test detonation of a bomb in a

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    The account of bomb making is also dotted with details about what he watched on TV including the Eurovision song contest and American police drama The Shield.

    In the text, titled 'A European Declaration of Independence', he wrote how he wanted to rid Europe of Islam and Marxism.

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  • Edward buy cheap wow gold Williams, analyst for BMO Capital Markets Corp., reiterated his "outperform," or "buy" rating for Activision despite an outlook that "disappoints."He also lowered his EPS forecast for 2011 to 70 cents from 82 cents, but said he was sticking to his 2012 EPS estimate of 90 cents."The company continues to benefit from the strength of its core brands, "Call of Duty" and "World of Warcraft," as well as strength in the growing category of downloadable content and other digital revenue streams," Williams wrote in a note to investors.Other companies, such as Netflix (ditching DVDs for digital.Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: 2016 Morningstar, Inc. Factset: FactSet Research Systems Inc. 2016. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S Dow Jones Indices LLC and have been licensed for use to S Opco, LLC and CNN. Standard Poor's and S are registered trademarks of Standard Poor TMs Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices S Dow Jones Indices LLC 2016 and/or its affiliates.
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  • Good cheapest wow gold afternoon, and thank you, for joining us today for Activision Blizzard's Third Quarter 2014 Conference Call. Speaking on the call today will be Bobby Kotick, CEO of Activision Blizzard; Dennis Durkin, CFO of Activision Blizzard; Eric Hirshberg, CEO of Activision Publishing; Mike Morhaime, CEO of Blizzard Entertainment; and Thomas Tippl, COO of Activision Blizzard.

    I would like to remind everyone that during this call, we will be making statements that are not historical facts. These are forward looking statements that are based on current expectations and assumptions that are subject to risks and uncertainties.

    A number of important factors could cause the company's actual future results and other future circumstances to differ materially from those expressed in any forward looking statement, including the factors discussed in the Risk Factors section of our SEC filings, including our 2013 annual report on Form 10 K, which is on file with the SEC, and those indicated on the slide that is showing.

    The forward looking statements in this presentation are based on information available to the company as of the date of this presentation. And while we believe them to be true, they ultimately may prove to be incorrect. The company undertakes no obligation to release publicly any revisions to any forward looking statements to reflect events or circumstances after today, November 4, 2014, or to reflect the occurrence of unanticipated events.

    I'd like to note that certain numbers we will be presenting today will be made on a non GAAP basis, excluding the impact of the change in deferred net revenues and related cost of sales with respect to certain of our online enabled games; expenses related to stock based compensation; the amortization of intangible assets; expenses including legal fees, costs, expenses and accruals related to the purchase transaction; and related debt financing and the associated tax benefits.

    There's also a PowerPoint overview, which you can access with the webcast and which will be posted to the website following the call. In addition, we will also be posting a financial overview highlighting both GAAP and non GAAP results in a 1 page summary sheet.

    And now I'd like to introduce our CEO, Bobby Kotick.

    Thank you, Kristin, and good afternoon, everyone. We've never produced as much great content in 1 year as we have in 2014. In terms of entirely new franchises, we successfully launched 2 major franchises, again, adding to our content portfolio, which includes some of the most valuable franchises in any medium.

    Launching franchises that appeal to global audiences requires inspired creative talent, commitment to innovation, business and process discipline, best in class execution, long term focus and significant capital resources. Our unyielding commitment to excellence resulted in launching Destiny as the most successful new IP in gaming history, and Hearthstone now has over 20 million registered users. This year, we're delivering some of the best content in our company's history for some of the world's strongest and most recognizable entertainment franchises, including Skylanders TRAP TEAM and Diablo III: Reaper of Souls. We remain committed to delivering the best quality entertainment experience to our audiences. Call of Duty: Advanced Warfare is the most ambitious Call of Duty released to date, and Blizzard's Warlords of Draenor is on track to be a great success.

    We expect to deliver double digit non GAAP revenue growth, record earnings per share and strong cash flow in 2014. Most importantly, we continue to deliver to our audiences the types of experiences that they love and expect, while strengthening and expanding our franchise portfolio. I want to thank all of our employees as well as the amazing team at Bungie for their extraordinary talent and dedication. Their incredible commitment, inspired creativity and operational excellence continues to produce world class experiences for our players and world class performance for our stakeholders.

    As entertainment continues to evolve, demand for great premium content is only increasing. We have a more than 20 year track record of creating some of the world's most iconic entertainment brands with some of the largest and most engaged player communities in the world. Over the next few years, we'll continue to expand our franchise portfolio and to invest in our rich franchise library.

    Blizzard's Hearthstone exemplifies this. Blizzard brought iconic World of Warcraft characters to a digital card game, optimized for PCs, tablets and soon mobile devices around the world, with free to play access for our audiences. In the next year, we expect to release 2 more new free to play franchises: Blizzard's Heroes of the Storm and Activision's Call of Duty Online, and both are designed for new platforms, new regions, has new genres and new audiences.

    As much as we've achieved, we're only at the beginning of what we believe is a new era for Activision Blizzard. Our opportunities have never been greater and I've never been more excited than I am now about our future.

    Now I'll turn the call over to Dennis.

    Thanks, Bobby. Good afternoon, everyone. Today, I will review our better than expected Q3 financial results, our outlook for the fourth quarter and our increased outlook for 2014.

    Starting with our financial results. Please refer to our earnings release for a full non GAAP to GAAP reconciliations. For the quarter, on a GAAP basis, we generated better than expected results, with revenues of $753 million and a loss per share of $0.03. On a non GAAP basis for the quarter, we generated better than expected and record results, with revenues of $1.17 billion, including 43% from digital channels and record Q3 EPS of $0.23, $0.12 better than our previous guidance.

    During the quarter, we successfully expanded our content portfolio with the launch of Destiny, which generated better than expected non GAAP revenues of over $500 million and achieved non GAAP profitability in the quarter. In addition to Destiny, Call of Duty and Skylanders drove the Activision Publishing business. And we saw strong contributions from Blizzard Entertainment's World of Warcraft; Diablo III; and Hearthstone's first expansion, the Curse of Naxxramas.

    For the first time, 6 major franchises contributed during the quarter, highlighting the increasing breadth and depth of our expanding content portfolio with recurring revenue streams.

    Within our 6 franchises, we saw strong digital demand in subscriptions, paid extra content, value added services and full game downloads. For Destiny and Diablo III on console, full game downloads drove a high teens percentage of total console volume.

    Through September, on a year to date basis, we generated non GAAP revenues of over $1.15 billion from digital channels, up 25% year over year. Obviously, the migration of our business to digital is happening rapidly, and we expect this trend to provide long term operating benefits in the future.

    Turning to specific P items. Please note all percentages are based on revenues, except for the tax rate. For Q3, GAAP product costs were 28% and operating expenses were 71%. GAAP and non GAAP interest expense was $51 million. Our GAAP weighted average basic share count was 718 million.

    On a non GAAP basis, for the quarter, product costs were 25%, operating expenses were 53% and operating margin was better than expected at 22% due to higher revenues and the timing of expenses.

    Our non GAAP tax rate was 17%. Please note that about half of our Q3 overperformance was due to the timing of revenues and expenses.

    In Q3, we generated non GAAP adjusted EBITDA of $280 million, which we define as non GAAP operating income and then add back depreciation. Our adjusted EBITDA margin was 24% in the quarter. On a trailing 12 month basis, we generated approximately $1 billion of operating cash flow.

    Turning to the balance sheet. As of September 30, we had over $3.8 billion in cash and investments. We held over $550 million of that amount domestically.

    In summary, Q3 was a record quarter for Activision Blizzard, driven by the record setting launch of Destiny, the resurgence of World of Warcraft subscribers and our increasingly broad and diversified portfolio, which generated strong digital demand across multiple titles, platforms and models.

    Turning to Q4. Our major launches include Activision Publishing's Skylanders TRAP TEAM, Call of Duty: Advanced Warfare and Destiny's first expansion; as well as Blizzard Entertainment's upcoming World of Warcraft expansion, Warlords of Draenor.

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  • NEW YORK cheapest wow gold (AP) Activision is bringing its popular "Call of Duty" series to China as a free online game.

    Activision Blizzard Inc. said Tuesday that it will publish the game through a partnership with Tencent Holdings Ltd., a Chinese online game company. There is no release date yet, and the contents of the game must still be approved by the Chinese government, as is the case with all games released in the country.

    The game is being developed in Shanghai specifically for the Chinese market. Players will be able to customize their weapons and characters by purchasing virtual items in the game.

    Though "Call of Duty" is played on game consoles in Western countries, in China people play games online, in Internet cafes. Consoles like the PlayStation and the Xbox are almost non existent there.

    "The only way to be successful here is to be local," said Activision CEO Bobby Kotick. Activision had set up the Shanghai studio to develop the game two years ago. Kotick said China is "underappreciated as an inspired, creative source of ideas" for games.

    Though it is working with Activision to operate "Call of Duty" in China, Tencent has a competitor in the country called CrossFire. It's a military shooter played online for free, with extra weapons and other items available for purchase.

    "Call of Duty" won't be Activision's first venture into China. It already runs the online games "World of Warcraft" and "StarCraft" in the country.

    Shares of Santa Monica, Calif. based Activision climbed 52 cents, or 4.3 percent, to $12.46 in afternoon trading. The stock has traded in the 52 week range of $10.40 to $14.40.

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