Activision Blizzard Inc. reported a third-quarter loss Wednesday, but exceeded Wall Street's estimates due to strong sales of the "Guitar Hero" music franchise and online game "World of Warcraft."
The Santa Monica video game publisher reported a net loss of $108 million (8 cents per share) after Wednesday's market close citing charges related to its July merger with the video game unit of conglomerate Vivendi SA.
Some financials can't be directly compared as this was the first quarter of combined results since the acquisition, but Activision reported its adjusted operating income grew 3 percent to $113 million from a year ago. Adjusted sales were $717 million, also above the company's guidance of $620 million.
Analysts surveyed by Thomson Reuters were expecting, on average, sales of $632.1 million. Activision reaffirmed its full-year revenue guidance of $4.9 billion revenue, also above analysts' expectations of $4.58 billion.
The company's shares were up $1.25, or 11 percent, to $12.23 in morning trading on the Nasdaq.
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