Vivendi Games has reported that its revenues for the first half of 2008 totaled €444 million, compared to €500 million during the same period last year.

The company attributed the fall in revenues to the strong showing of Blizzard’s second World of Warcraft expansion, The Burning Crusade, during the first half of 2007, and noted that all business segments had been impacted by unfavorable currency exchange movements.

Blizzard's H1 revenues were €378 million, while Sierra Entertainment, Sierra Online and Vivendi Games Mobile revenues were slightly better than last year, the company said.

During the second quarter Vivendi Games’ revenues hit €223 million, representing a Q2 year on year rise of 6.7 percent in actual currency, or 17.9 percent on a constant currency basis.

At the beginning of July Vivendi and Activision merged to form Activision Blizzard, “the world’s most profitable pure-play online and console game publisher”. Vivendi now owns 54 percent of outstanding shares of Activision Blizzard.