Activision's Earnings Mix-Up Sends Gaming Shares on Wild Ride
- Erroneous report sent gaming shares tumbling, then soaring
- First-quarter earnings beat, second-quarter view disappoints
A gamer plays Activision Blizzard Inc.'s Overwatch computer game.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
For investors in Activision Blizzard Inc. and its video game competitors, it was an eventful Thursday afternoon.
Just after 1 p.m., Activision shares sharply spiked to session highs, setting off alarm bells for traders who were expecting the company’s earnings report after the market closed. Some headlines containing financial information, potentially from prior quarters, were published in error by News Corp.’s Dow Jones News Service.