They lost $233 million in the quarter ending December 2010. That was the same quarter that had spectacular sales success stories like Call of Duty: Black Ops and World of Warcraft: Cataclysm. I'm looking forward to some in-depth analysis on the earnings call, but that's pretty scary, where the quarter with the "biggest entertainment launch ever" and an expansion for the biggest MMO wasn't enough for Activision to go profitable in the quarter.
I thought that Guitar Hero was getting old back when Guitar Hero 5 was announced. This year, both Rock Band 3 and Guitar Hero: Warriors of Rock didn't sell as well as their publishers wanted.