Activision raises quarterly forecasts
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Activision Inc. raised its revenue and profit forecasts for the quarter on demand for its new “Guitar Hero” video game. Its stock climbed 13.8%, the most in almost four years.
Sales in the fiscal third quarter ending Dec. 31 will increase to $1.23 billion and earnings per share to 66 cents, the Santa Monica-based company said. Activision previously expected revenue of $1.05 billion and earnings of 51 cents a share.
“Guitar Hero III: Legends of Rock,” a rock ‘n’ roll game released in October, was last month’s bestselling title for Nintendo Co.’s Wii and Sony Corp.’s PlayStation 2 and PlayStation 3 consoles, according to research firm NPD Group Inc.
Activision also increased its sales forecast for the full year to $2.3 billion, with earnings of about 75 cents a share.
Activision shares rose $2.61 to $21.54.
