Activision Inc shares soared to an all-time high on Friday a day after the video game firm reported first quarter sales which far exceeded analysts' expectations.
The Santa Monica, California-based company said late Thursday that revenue was higher due to strong sales of its Guitar Hero 3 and Call of Duty 4 video games.
Shares of Activision rose $3.94, or 14.2 percent, to close at $31.64.
Net income for the quarter was $44.2 million, or 14 cents per share, compared with a loss of $14.4 million in the last quarter, or 5 cents per share.
Excluding stock options costs, Activision earned $54.9 million or 17 cents per share, more than the 5 cents expected by analysts polled by Thomson Financial.
Revenue soared 93 percent to $602.5 million. Analysts had expected sales of $373.6 million.
Late last year, Activision agreed to merge with Vivendi's games unit to create Activision Blizzard. Today's stock move gives Vivendi a 15 percent premium over the Activision shares it agreed to buy in December for $27.50.
Activision said that it expects earnings of 13 cents per share for the current quarter, excluding special items, with revenue of $500 million.