Activision shares up as Call of Duty earnings beat Q3 earnings

Activision Blizzard (ATVIA) posted stronger-than-expected third-quarter results Monday, saying Microsoft’s planned $69 billion acquisition (MSFT) is expected to be completed by the middle of next year.

Activision said GAAP earnings for the three months ended September were pegged at 55 cents per share, down 33% from the same period last year but better than Street’s consensus forecast of 50 cents per share. The group’s adjusted revenue, excluding deferred payments, declined 7.7% to $1.735 billion, but was just above analyst estimates of $1.694 billion. Net gaming bookings rose 13.33% to $1.36 billion, Activision said.

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