Activision Shares Advance Most on Call of Duty Holiday SalesDanielle Burger
Activision Blizzard Inc., the largest U.S. video-game maker, jumped the most in more than 11 months following strong holiday sales of Call of Duty: Advanced Warfare.
A promotion for Advanced Warfare selling for $39.99 during the U.S. holiday period was a “catalyst” driving sales, helping the title beat a forecast by Drew Crum, an analyst with Stifel Nicolaus & Co. Crum has a buy rating on the stock. Edward Williams, an analyst at BMO Capital Markets, said sales climbed 2 percent in December after a decline of 23 percent in November.
The shares rose 9.2 percent to $20.25 in New York, the biggest increase since February 2014.
Advanced Warfare topped the U.S. charts last year and was the No. 1 console game worldwide, the Santa Monica, California-based company said today in a statement. Destiny, the sci-fi shooter title released in September, was the second-best selling game in the U.S. based on revenue.
Activision said its Skylanders Trap Team was the No. 1 selling title in the toy-and-video-game category worldwide. Walt Disney Co. said its Infinity (2.0 Edition) is No. 1 in the category in the U.S.