Activision Blizzard profits hit $1.4bn

Activision Blizzard has posted record breaking revenue of $4.76bn for the financial year.

$1.6bn of this was generated from digital markets. That’s 34 per cent of the company’s total revenues.

The $4.76bn is well ahead of Activision’s projections (almost $800m more) and is up over the previous year’s $4.45bn.

Net revenue for Q4 2011 was $1.41bn, slightly down on the $1.43bn posted the year before.

Activision plans to buy back a further $1bn in shares this year.

MCV has more details