Why Activision Blizzard Shares Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Activision Blizzard popped by as much as 16% today after the company reported strong earnings.
So what: Adjusted revenue came in at $2.6 billion, with adjusted earnings per share of $0.78. Sales came in above Activision Blizzard's own guidance, as well as Street forecasts, and the bottom line was also better than investors were expecting.
Now what: The company's Call of Duty and Skylanders franchises continue to do well, with each taking home the title of No. 1 and No. 3 best-selling franchises, respectively, within North America and Europe. Next month, the company is set to release StarCraft II: Heart of the Swarm, the highly anticipated follow-up to its StarCraft II franchise. The game maker expects 2013 adjusted revenue to be approximately $4.2 billion, with adjusted earnings per share of $0.80.
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The article Why Activision Blizzard Shares Popped originally appeared on Fool.com.Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends Activision Blizzard. The Motley Fool owns shares of Activision Blizzard. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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