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Technology Stocks : Activision....Returns!

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Oct 13 5:00 PM EST

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From: JakeStraw	11/27/2007 8:04:54 AM
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Activision Boosts 3rd-Quarter, 2008 Earnings and Revenue Outlooks on Guitar Hero III biz.yahoo.com SANTA MONICA, Calif. (AP) -- Activision Inc. on Tuesday raised its third-quarter and fiscal 2008 earnings and revenue outlook partly due to strong sales of Guitar Hero III: Legends of Rock. The video game publisher now anticipates a third-quarter profit of 66 cents per share on revenue of $1.23 billion, up from its prior forecast for net income of 51 cents per share on sales of $1.05 billion. Excluding equity-based compensation, Activision expects profit of 70 cents per share compared with its prior outlook of 55 cents per share. Analysts polled by Thomson Financial predict third-quarter earnings of 56 cents per share on revenue of $1.04 billion. The company also lifted its fiscal 2008 profit forecast to 75 cents per share from 55 cents per share and adjusted earnings to 85 cents per share from 65 cents per share. Revenue is now anticipated at $2.3 billion, up from a previous outlook of $2.07 billion. Analysts expect 2008 net income of 69 cents per share on sales of $2.09 billion.

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