Activision Blizzard (ATVI)

— Company Calendar Year Financial Outlook Remains Unchanged —

Santa Monica, CA — November 5, 2009 — Activision Blizzard, Inc. (Nasdaq: ATVI) today announced better-than-expected financial results for the third quarter 2009.

For the quarter ended September 30, 2009, Activision Blizzard’s GAAP net revenues were $703 million, as compared to the company’s prior GAAP net revenue outlook of $680 million.  On a non-GAAP basis, the company’s net revenues were $755 million, as compared with its prior non-GAAP net revenues outlook of $700 million.

For the quarter ended September 30, 2009, Activision Blizzard’s GAAP earnings per diluted share were $0.01, as compared to its prior GAAP loss per diluted share outlook of $0.03.  On a non-GAAP basis, the company’s earnings per diluted share were $0.04, as compared to its prior non-GAAP earnings per diluted share outlook of $0.03.

The company reports results on both a GAAP and a non-GAAP basis.  Please refer to the tables at the back of this press release for a reconciliation of the company’s GAAP and non-GAAP results.

Robert Kotick, CEO of Activision Blizzard, stated, “Our performance was driven by positive audience response to Activision Publishing’s Guitar Hero 5Ô, MarvelÔ: