Activision Shares Rise on Revenue Forecast

Shares of Santa Monica video game publisher Activision Inc. rose after the company raised its sales estimates for its fiscal fourth quarter. Based on strong sales of its games, the company expects revenue up to $125 million compared with its previous estimate of $100 million for the quarter ended March 31.

It also expects a smaller loss of 12 to 14 cents a share, down from a previous loss estimate of 15 cents.

For the year, it projected record annual sales of up to $864 million and earnings of 95 cents to 97 cents a share.

Activision will report full financial results May 8. Shares gained 74 cents to $15.10 on Nasdaq.

-- Alex Pham