Activision Lifts Forecast for Earnings by 50%

Video game publisher Activision Inc. raised its earnings forecast for the current quarter by nearly 50%, citing sales of three new hit titles.

Shares rose in after-hours trading, gaining nearly 7% to $17.50 from a close of $16.41 on Nasdaq.

Activision said it now expected earnings per share in the fiscal third quarter of 67 cents on revenue of $480 million, up from its prior forecast of 45 cents on revenue of $390 million.

Activision cited the performance of the core of its holiday lineup -- the criminal adventure “True Crime: Streets of L.A.,” skateboarding game “Tony Hawk’s Underground” and war title “Call of Duty.”