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Activision Blizzard stock rising after strong Christmas sales

"This was a record quarter to cap off a record year for Activision Blizzard," said Bobby Kotick, Activision chief executive
video games players
The Call of Duty game generated over US$1bn of sales alone

Activision Blizzard Inc (NASDAQ:ATVI) is set to start the morning’s trade in positive territory following financial results, released after Thursday’s close, showed a strong Christmas period.

The ‘Call of Duty’ video games studio generated adjusted quarterly revenue of US$2.65bn, with the first person shooter title bringing in more than US$1bn alone.

READ: Activision Blizzard confirms closure of US distribution hub

Wall Street analysts had anticipated fourth-quarter revenue of US$2.55bn.

Activision reported a net loss of US$584mln net loss or 77 US cents per share for the quarter, compared to a US$254mln profit in the same period of last year. The loss was largely due to the US$1.03 per share dent related to US tax changes.

"This was a record quarter to cap off a record year for Activision Blizzard," said Bobby Kotick, Activision chief executive.

"In 2017, our community reached new milestones for engagement, our business delivered record revenues and cash flows, and we made important progress in building future growth opportunities such as the Overwatch League.

“We couldn't be more excited for the opportunities ahead in 2018 to continue serving our players and fans."

On Wall Street, Activision stock was up 82 US cents or 1.25% changing hands at US$66.65 ahead of the opening bell.

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