Activision forecast rocks up

Activision has amended its forecast for the company's current financial year, ending March 31, 2008--and puts it down to the success of Guitar Hero III and Call of Duty 4: Modern Warfare.

For the company's third quarter, which ends December 31, Activision now anticipates record net revenues of $1.2 billion, and earnings per diluted share of 66 cents. This is an increase on the previous outlook of $1.1 billion and 51 cents per share.

For the current fiscal year Activision expects net revenues to break another record, and be $2.3 billion, and earnings per diluted share 75 cents, compared to the previous estimate of $2.1 billion and 55 cents per share.

Activision CEO Robert Kotick commented, "Due to the strong consumer response to our slate through October and strong retail sales over the Thanksgiving weekend, we are raising our financial outlook for the December quarter and the fiscal year."