Activision results give shares a lift
From Times Wire Services
Activision Inc. posted fiscal first-quarter sales of about $650 million, exceeding forecasts the company made before completing its merger with Vivendi’s online games division last week.
Net income totaled 16 cents to 18 cents a share, including 5 cents in merger and stock-based pay costs, the new company, Activision Blizzard Inc., said in a preliminary statement for the period ended June 30.
The Santa Monica company had forecast 4 cents in profit on sales of $500 million on a stand-alone basis.
Activision Blizzard shares, which closed up 39 cents at $32.94, gained $1.56, or 4.7%, to $34.50 in after-hours trading after the announcement.
