Activision Reports Preliminary Earnings

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Activision Inc. reported a huge jump in profit thanks to increased sales.


The Santa Monica video game developer reported third-quarter net income of to $124.8 million (41 cents per share), an 84 percent increase from the same period a year earlier.


Activision sales were even with last year’s at $822.8 million, thanks in large part to PlayStation’s “Guitar Hero II,” which has sold more than 2 million copies since it debuted late last year.


The video game developer also disclosed that it plans to restate as many as 15 years of results due to costs associated with stock options. The company hasn’t filed an earnings report in six months.


Shares in Activision closed up 7 cents to $16.84, and gained another 10 cents in aftermarket trading to $16.94.

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