Activision Profit Soars on Sales of New Games

Thursday, 07 Feb 2013 04:42 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Activision Blizzard Inc., the largest U.S. video-game maker, said fourth-quarter net income more than tripled, beating analysts’ estimates on gains from the latest “Skylanders” and “Call of Duty” titles.

Net income soared to $354 million, or 31 cents a share, from $99 million, or 8 cents, a year earlier, the Santa Monica, California-based company said Thursday in a statement. Excluding items, profit of 78 cents exceeded the 72-cent average of 22 analysts’ estimates compiled by Bloomberg.

Sales, excluding changes in deferred revenue, rose 7.6 percent to $2.6 billon, beating the $2.44 billion average estimate of analysts.

Activision has weathered an industry decline by updating existing top sellers and developing new ones. The company recently announced a third installment of its “Skylanders” franchise, which marries a traditional video game with collectible action figures. Consumers purchased more than $500 million of the games and toys in the past two iterations.

Activision shares jumped 4.7 percent at $12.63 in aftermarket trading Thursday, after gaining 1 percent during the regular session. The shares had gained 14 percent this year.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved