Business
(Reuters) - Activision Blizzard Inc on Thursday forecast full-year adjusted revenue above analysts estimates, driven by strong demand for the latest installment of its blockbuster Call of Duty franchise from gamers staying at home during the COVID-19 pandemic.
The company expects full-year adjusted sales to be $8.45 billion, above Wall Street s average estimate of $8.31 billion, according to Refinitiv IBES data.
Shares of the company were up nearly 5% in extended trading.
Videogame makers across the world continue to benefit from the COVID-19 pandemic, which has forced people to remain indoors, leading to a surge in demand from stay-at-home gamers.
In the United States alone, videogame sales jumped 25% year-over-year to $7.7 billion in December and Activision s Call of Duty: Black Ops Cold War was the bestseller across all platforms in 2020, according to data from research firm NPD.
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