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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Activision Blizzard (NASDAQ: ATVI ) popped by as much as 16% today after the company reported strong earnings.
So what: Adjusted revenue came in at $2.6 billion, with adjusted earnings per share of $0.78. Sales came in above Activision Blizzard's own guidance, as well as Street forecasts, and the bottom line was also better than investors were expecting.
Now what: The company's Call of Duty and Skylanders franchises continue to do well, with each taking home the title of No. 1 and No. 3 best-selling franchises, respectively, within North America and Europe. Next month, the company is set to release StarCraft II: Heart of the Swarm, the highly anticipated follow-up to its StarCraft II franchise. The game maker expects 2013 adjusted revenue to be approximately $4.2 billion, with adjusted earnings per share of $0.80.
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