Activision Blizzard stock surged 10% after earnings

Activision (ATVI.US) stock rose nearly 10% after the video game developer's reported quarterly profit of $ 1.21 per share, above analysts' expectations of $ 1.18 per share. Revenue of $3.05 billion also beat market estimates $2.78 billion. Company provided an optimistic 2021 sales forecast on the strength of its newest installment of the “Call of Duty” franchise which had 128 million active users last quarter. Overall Activision Blizzard has approximately 300 million monthly users which are playing across its various franchises including "World of Warcraft'' and “Candy Crush.” This number far outweighs both Netflix and Disney + subscribers, which have 200 million and 86.8 million subscribers, respectively. “We had the best year in our 30-year history,” said Activision Blizzard CEO Bobby Kotick.

Activision (ATVI.US) stock launched today's session with a bullish price gap and painted a fresh new all time high at $104.12. Source: xStation5

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