Activision Blizzard's First Quarter Earnings Jump on Success of Major Game Franchises

Fueled by its top franchises, like Call of Duty and World of Warcraft, Activision Blizzard reported better than expected first-quarter results today. Revenues increased to $1.4 billion from $1.3 billion in the year-ago period, and net income totaled $503 million, up from $381 million in first quarter 2010. Earnings per share jumped to 42 cents a share, up from 30 cents a share in the same time period. The company also raised its full-year outlook with earnings per share of 61 cents on revenues of $4.05 billion.