Activision shares surge on outlook

Activision Blizzard Inc. shares climbed more than 10% Thursday after the video-game publisher reported better-than-expected second-quarter earnings, driven by sales of its latest "Transformers" and "X-Men" game titles, and reiterated its profit estimates for its entire fiscal year.

The company's outlook was still mixed, as the company said it would push two of its planned new releases into 2010.

Activision shares climbed $1.23, or 10.7%, to close at $12.78 after the company said it earned $195 million, or 15 cents a share, on total revenue of $1.04 billion. Earnings excluding deferred revenue from previous business periods was $112 million, or 8 cents a share, on $801 million in sales.

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