|Company Name:||Activision Blizzard, Inc|
|Event Title:||Q2 2013 Earnings Call Transcript|
|Event Time:||04:30 PM ET|
Good day and welcome to the Activision Blizzard's Second Quarter 2013 Results Conference. Today's call is being recorded.
At this time for opening remarks and introductions I would like to turn today's call over to the Senior Vice President of Investor Relations and Treasurer, Ms. Kristin Southey. Please go ahead.
Senior Vice President, Investor Relations
Good afternoon and thank you for joining us today for Activision Blizzard's second quarter 2013 conference call.
With me today are Bobby Kotick, CEO of Activision Blizzard; Thomas Tippl, COO of Activision Blizzard, Dennis Durkin, CFO of Activision Blizzard; Eric Hirshberg, CEO of Activision Publishing and Michael Morhaime, CEO of Blizzard Entertainment.
I would like to remind everyone that during this call we will be making statements that are non-historical facts. These are forward-looking statements that are based on current expectations and assumptions that are subject to risks and uncertainties.
As indicated on the slide that is showing a number of important factors that could cause the company's actual future results and other future circumstances that differ materially from those expressed in any forward-looking statements. Such factors include without limitations sales levels, current macroeconomic conditions, increasing concentration of titles , shift in consumer spending trends, our ability to predict consumer preferences among competing genres and hardware platforms, maintenance of key relationships including the ability to attract, retain and develop key personnel and developers that can create high quality hit titles the seasonal and cyclical nature of our industry, changing business models including digital delivery of content, competition including from used games, possible declines in prices, product returns, price protection, product delays, the adoption rates and availability in the hardware and the latest software particularly during the accountable transition, the rapid changes in technology and industry standards.
The current regulatory environment litigation and associated costs, protection of proprietary rights, counterparty risks, economic financial and political conditions and policies, foreign exchange and tax rates, intangible changes associated with geographic expansion, capital market risks, the profitability to extensive benefits related to the recently announced transactions may not materialize as expected and the transactions not timely completed if completed at all. These factors and other factors that potentially could affect the company's financial results are described in the company's most recent annual report and Form 10-K for the period and quarterly and Form 10-Q for the period and the company's other SEC filings.
The company may change its intentions, beliefs or expectation anytime and without notice based upon any changes in such factors in the company's assumptions or otherwise. 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 that to be true, may ultimately prove to be incorrect.
The company undertakes no obligation to release publicly any revision to any forward-looking statement to reflect events or circumstances as of today August 01, 2013 or to reflect the occurrence of unanticipated events. I would 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 relate the cost of sales with respect to certain of our online-enabled games, expenses related to stock based compensation, expenses related to restructuring, the amortization of intangibles impairment and intangible assets and goodwill and the associated tax benefit.
Please refer to our earnings release, which is posted at www.activisionblizzard.com for a full GAAP to non- GAAP reconciliation and further explanation. There is 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 positing a 12 quarter financial overview highlighting both GAAP and non- GAAP results on a one page summary sheet. Further you can find the PowerPoint overview of the recently announced transaction on our website.
And now I'd like to introduce our CEO, Bobby Kotick.
Robert A. Kotick
President and Chief Executive Officer
Thank you Kirstin and thank you all for joining us today.