Markets News

CORRECTED-BUZZ-Activision Blizzard: Profit forecast above estimates

(Corrects headline, 2nd bullet to say forecast above estimates, drops reference to competition; Corrects Q4 adj. profit outlook to $1.09/shr from $0.63/shr in 3rd bullet, and FY adj. profit forecast to $3.35/shr from $3.08/shr in 4th bullet)

** Videogame publisher’s shares fall 5% to $73.53 after market following results

** ATVI forecasts Q4, FY profit above est following booming demand from stay-at-home gamers

** Sees Q4 adj EPS of $1.09 vs est $1.08 - Refinitiv data

** Raises FY earnings forecast to $3.35/shr from $2.87/shr, vs est $3.30/shr

** ATVI now expects higher annual adj sales, betting on a strong performance for its upcoming “Call of Duty” franchise videogame

** Sees FY adj revenue of $8.10 bln vs previous forecast of $7.63 bln, vs est $7.94 bln

** YTD, stock up ~30% (Reporting by Shreyasee Raj in Bengaluru)