Activision Blizzard (ATVI - Free Report) recently announced that its massively popular role playing game Diablo III is now available on Sony’s (SNE - Free Report) PlayStation 3 as well as on Microsoft’s (MSFT - Free Report) Xbox 360 entertainment system.
Both the console versions are priced at $59.99. Diablo III released in the U.S., Canada, Spanish-speaking Latin America, Europe, South Korea, Taiwan, Hong Kong, Macau, Southeast Asia, Australia, and New Zealand. The game is available in English, German, French, Spanish, Russian, Italian, Polish, and Brazilian Portuguese.
The console versions of the game are equipped with all the regular features of the PC version including the latest upgrades. Additionally, a new user interface is being designed by the company that will enhance the gaming experience on PlayStation.
However, Activision announced that the game will not be available on the upcoming console PlayStation 4 from Sony until 2014. The company also did not provide any details about the availability of the game on Microsoft’s Xbox One.
Originally released for Windows and Macintosh operating systems in May 2012, Diablo III received tremendous response from gamers, making it the fastest-selling PC game of all times. As of Dec 31, 2012 Activision sold more than 12 million copies of the game worldwide.
Recently, Activision unveiled a new expansion pack for Diablo III called Reaper of Souls. However, Activision did not provide the exact release date. We believe that the upcoming new expansion pack along with the console releases will further boost the game’s popularity in the near term.
Activision is expected to benefit from its strong product pipeline in 2013. The upcoming release of its blockbuster franchise Call of Duty: Ghosts presents a significant growth opportunity in the upcoming holiday season. Going forward, the higher mix of digital revenues is expected to help margins as well.
This will also improve its competition against Electronic Arts (EA - Free Report) .
Currently, Activision Blizzard has a Zacks Rank #1 (Strong Buy).