Activision usually puts out fiscal quarter press releases stating that they beat expectations and had another great quarter. That was not the case this time. While the company did well overall, things weren't as rosy as usually. It seems the culprits were Skylanders and Guitar Hero Live.
Activision says that Guitar Hero Live and Skylanders Superchargers both fell short of expectations, with Skylanders' weak performance attributed to increased competition in the market. No reasoning for Guitar Hero Live missing target was given.