This past Wednesday, Activision Blizzard Inc. reported better-than-expected financial results for the first quarter ended March 31. For the quarter, Activision Blizzard’s GAAP net revenues were $1.28 billion, as compared with $1.11 billion for the first quarter of the prior year. On a non-GAAP basis, the company’s net revenues were $703 million, as compared with $772 million for the first quarter of the previous year. For the first quarter, GAAP net revenues from digital channels were a record $581 million and represented a first-quarter record 45 percent of the company’s total revenues. On a non-GAAP basis, net revenues from digital channels were a first-quarter record $538 million and represented a record 76 percent of total revenues.

For the quarter ended March 31, Activision Blizzard’s GAAP earnings per diluted share were a record $0.53, as compared with $0.40 for the first quarter of last year. On a non-GAAP basis, the company’s earnings per diluted share were $0.16, as compared with $0.19 for the first quarter of the previous year.

On a constant FX basis, non-GAAP revenues and EPS were flat year-over-year, despite a lighter first-quarter slate this year, given strong trends with ongoing monetization.

Activision Publishing had the No. 1 console franchise in North America and Europe year-to-date: Skylanders, which outsold the No. 1 action figure line globally, and was the No. 1 kids console franchise and title globally.